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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

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 (COINDESK:BTCUSD) were down more than 6% on Friday, changing hands at $35,412.47 on CoinDesk. The world’s No. 2 crypto, Ether (KRAKEN:ETHUSD) 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 (DOW:DJIA) was down more than 400 points, or 1.2%, the S&P 500 index (S&P:SPX) was sinking 0.9%, aiming to avoid its first close below its 50-day moving average since March 8, while the Nasdaq Composite Index (NASDAQ:COMP) was trading 0.7% lower after earlier this week registering its first all-time closing high since April 26.

Link to MarketWatch's Slice.