Cryptocurrency Market Loses Over $100B This Weekend; Most Cryptos Tank

Over $100B was wiped off the cryptocurrency market this weekend after Treasury Secretary Janet Yellen issued a sombre crypto warning. Crypto prices have fallen together with the S&P 500 down 2.9% Friday, and the Nasdaq down 3.5%.

The crypto market has grown increasingly correlated with traditional equity markets in recent months. Both crypto and stock markets have taken a hit over the last six months, with central banks ending Covid-19 stimulus checks and raising interest rates.