Cryptocurrencies faced downward trends as recession fears impacted risk assets, with Bitcoin dropping over 4% before stabilizing, signaling investor caution ahead of key economic data.
The Aptos native token suffered a 7% decline due to an upcoming token unlock event, highlighting the potential negative influence on tokens as supply increases.
Recent research indicates cryptocurrencies typically underperform during the week before and after significant token unlocks, suggesting a pattern tied to market psychology and investor sentiment.
Broader market sentiments were reflected in traditional equities, with major indexes like the Dow and S&P 500 also experiencing declines, emphasizing a risk-off climate affecting all sectors.
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