As the crypto sell-off continues, BTC and ETH drop

Nasdaq 100 futures fell today as investors sought to reduce risk. The index fell by around 90 points, while the Dow Jones and S&P 500 indexes fell by 0.10 percent and 0.20 percent, respectively. The reduction was caused in part by Netflix, the streaming provider, reporting notably poor performance. Following the company’s poor projection, shares fell by approximately 20% in extended hours. In the first quarter, it hopes to add 2.5 million new subscribers. This is less than the 4 million it added in the same period last year. Another big mover was Peloton, whose stock dropped by 20% amid news that it was ceasing production.

Cryptocurrencies fell dramatically today as regulatory concerns persisted. The Russian central bank suggested that the government prohibit cryptocurrency and mining in a statement issued on Thursday. It ascribed this to the disruption of monetary policy as well as the fact that cryptocurrency have increased cybercrime. The announcement comes only days after an EU regulator proposed a ban on proof-of-work mining. Cryptocurrencies have also plummeted as investors become increasingly concerned about rising interest rates. Bitcoin has dropped to roughly $38,000, while the overall market capitalization of all cryptocurrencies has dropped to around $1.9 trillion.