Bitcoin (BTC) fell to its lowest level since early August, with losses in U.S. and Asian equity markets causing major stocks to tumble nearly 10%. BTC briefly fell to $55,500, its lowest since August 8, reversing nearly all gains in the past month.
Major tokens Solana’s SOL and Ethereum (ETH) dropped by over 7%. U.S. stocks, including Nasdaq 100 and S&P 500, lost over $1 trillion on Tuesday, triggering a historically bearish September month.
The move spread to Asian markets, with Japan’s Nikkei slid more than 4% after opening, exacerbating tremors from last month’s Yen carry trade unwinding. The Institute for Supply Management’s manufacturing index slumped for a fifth straight month, remaining below the 50 threshold.
Last week, a crypto address owned by the ARB Foundation, a non-profit organization supporting depression sufferers, transferred 60,000 ETH, valued at $150.33 million, to Binance in August. The current deposit has increased the total transferred amount to 90,000 ETH, valued at $226.02 million, causing apprehension in the crypto community.
