Crypto faces worst week since FTX as geopolitics rattle markets — short Ethereum on continued weakness
The crypto market just suffered a massive $390 billion crash, making it the worst week for Bitcoin and Ethereum since the FTX collapse. This meltdown is happening as global military conflicts and rising oil prices spook investors everywhere.
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Cryptocurrencies are experiencing their worst sell-off in years, wiping out hundreds of billions in value as panic selling takes hold. Simultaneously, escalating military tensions in the Middle East—specifically the closure of a major global oil shipping route—are driving up energy costs and stoking fears of broader economic inflation. When inflation spikes and geopolitical uncertainty reigns, investors historically flee high-risk assets like crypto first. Ethereum is bleeding out faster than Bitcoin in this rout, making it a prime candidate to continue sliding lower as these macro pressures show no immediate signs of resolution.