Black Monday: Crypto, stocks take massive hit — Here’s what happened

In over 180 episodes, this is by far the most unusual. In today’s episode, we break down the wreckage from the weekend as a new week kicks off with the worst Monday for financial markets since the global stock crash of 1987, known as Black Monday. As a result, crypto has plunged, wiping out over $500 billion from its market cap in just the past 24 hours. Hundreds of millions of dollars in leveraged longs have also been liquidated, and Bitcoin briefly dipped as low as $49,000. And yet, while the markets are scrambling both in and out of crypto, the Bitcoin whales are doing whale things.Further reading:Bitcoin eyes $58K CME gap next as 8% BTC price rout sees longs ‘rekt’Bitcoin dominance hits 58% amid altcoin, stock market bloodbathBitcoin dips below $50K: Crypto market crashes 17%Was Warren Buffett right? 5 Things to know in Bitcoin this weekCrypto hackers buy Ethereum dip using stolen fundsBitcoin price loses $60K, but a maturing Wyckoff signal gives hopeRise’n’Crypto is brought to you by Cointelegraph and is hosted and produced by Robert Baggs. You can follow Robert on Twitter and LinkedIn. Cointelegraph’s Twitter: @CointelegraphCointelegraph’s website: cointelegraph.comThe views, thoughts and opinions expressed in this podcast are its participants’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast’s participants may or may not own any of the assets mentioned.