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June 18, 2021, 3:36 p.m. EDT

Bitcoin slides toward worst day in 3 weeks, leads crypto’s Friday skid along with stock market

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By Mark DeCambre

Bitcoin prices on Friday were slumping, on track for the steepest slide in three weeks, with the decline in the world’s No. 1 crypto coming in tandem with a retreat in the stock market.

Crypto assets aren’t meant to be correlated to traditional asset, but increasingly a stumble in risk has coincided with shifts in sentiment around digital assets.

At last check, bitcoin prices /zigman2/quotes/31322028/realtime BTCUSD +0.44% were down more than 6% on Friday, changing hands at $35,412.47 on CoinDesk. The world’s No. 2 crypto, Ether /zigman2/quotes/108573964/realtime ETHUSD +0.83% on the Ethereum blockchain, was down over 7%, at $2,160.65.

Declines for both Ether and bitcoin would be about the worst daily slumps since late May.

The global crypto market was down 6%, according to CoinMarketCap.com .

The declines in digital assets come as the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.09% was down more than 400 points, or 1.2%, the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.75% was sinking 0.9%, aiming to avoid its first close below its 50-day moving average since March 8, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +0.50% was trading 0.7% lower after earlier this week registering its first all-time closing high since April 26.

/zigman2/quotes/31322028/realtime
US : CoinDesk
61,293.69
+269.48 +0.44%
Volume: 0.00
Oct. 16, 2021 9:34p
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/zigman2/quotes/108573964/realtime
US : Kraken
3,863.44
+31.67 +0.83%
Volume: 62.33M
Oct. 16, 2021 9:35p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
35,294.76
+382.20 +1.09%
Volume: 327.87M
Oct. 15, 2021 4:46p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,471.37
+33.11 +0.75%
Volume: 2.05B
Oct. 15, 2021 4:46p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
14,897.34
+73.91 +0.50%
Volume: 4.09M
Oct. 15, 2021 5:16p
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