Cryptocurrency’s latest slide hit the market like a sudden cold wind, sparked by a gap in economic data after the historic government shutdown. With the Fed now seen as less likely to cut rates in December, risk assets recoiled. Bitcoin (BTCUSD) cratered by more than 30% from its October peak, Ethereum (ETHUSD) followed, and another wave of liquidations swept across the sector. Rumors of a forced seller only deepened the pressure, leaving crypto-treasury firms scrambling as their balance sheets shrank overnight.
But just as the screens turned red, Cathie Wood moved in the opposite direction. While most investors pulled back, Ark Invest quietly loaded up, buying the dip across crypto-linked names.
