The S&P 500 lost 122 points, or 2.77%, to end the session at 4,271 points, while the Nasdaq Composite lost 335 points, or 2.55%, to 12,839.
The correlation between the flagship cryptocurrency and the S&P 500, Dow Jones, and Nasdaq 100 has been on the rise in recent months.
Stocks, gold, oil, crypto, all had a pretty rough week,” Chris Kline, chief operating officer and co-founder of Bitcoin IRA told MW in an interview.
The world’s largest cryptocurrency by market cap, has been trading in the range of $38,000 to $48,000 for the past month.
Bitcoin hit an all-time high of nearly $69K last November, and has since been in a downtrend.