Bitcoin Falls as Stocks Roil on China’s Property Crisis

Bitcoin Falls as Stocks Roil on China’s Property Crisis

Bitcoin fell some 7% from $48,000 to $44,500 at the time of writing while eth dropped more than 8% with most other cryptos in a red Monday of between -10% to -15%, except tether and other USD tokens that have gained 0.15%.

The reason is most likely macro. Jitters in China and Hong Kong have sent a property developer, Sinic Holdings, down some 87% (pictured) in a first notable crash of its sort since 2008.

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