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

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
were down more than 6% on Friday, changing hands at $35,412.47 on CoinDesk. The world’s No. 2 crypto, Ether
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

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

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