The high-cap cryptocurrencies that went into losses this week also included Ethereum<\/a>, Bitcoin SV, and Bitcoin Cash \u2013 all of which slipped by 4-6 percent on a 24-hour adjusted timeframe. Meanwhile, Litecoin and EOS were among the least-impacted tokens, registering dwarfed losses of 2.1 percent and 0.94 percent, respectively.<\/p>\n The crypto market’s overall losses came in tandem with similar moves in the global equity bazaars. The US benchmark S&P 500 index recorded its worst daily performance in the last two years on Monday. Likewise, the European benchmark Stoxx 600 surrendered all of its 2020 gains to Coronavirus fears<\/a>.<\/p>\n The virus is likely to weigh on the sentiments of investors this quarter. It has killed about 2,700 people and has infected about 80,000 more both in China and the rest of the world. Almost all the big economies are reporting the first cases of the epidemic, scaring investors further away from the risk-on markets.<\/p>\n As the pandemic grows into the market’s conscience, its risks have seldom helped to push cryptocurrencies as safe-haven. Alex Kr\u00fcger, a prominent market analyst, said in a tweet earlier this week that Bitcoin, the benchmark crypto that typically leads the market rally, is doing its own thing against Coronavirus.<\/p>\n Chart shows prices of US tech stocks, US treasuries, gold and bitcoin during the current round of panic.<\/p>\n Three of these are strongly correlated during times of stress. The fourth does its own thing.<\/p>\n The chart illustrates how unreliable bitcoin correlations with risk assets are. pic.twitter.com\/NDhvvBsnex<\/a><\/p>\n — Alex Kr\u00fcger (@krugermacro) February 24, 2020<\/a><\/p><\/blockquote>\n![\"crypto,](\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/02\/pUQ5E8hp.png?resize=860%2C509\")
<\/a>Coronavirus<\/h2>\n
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