Stocks and Crypto Plummet in Coordinated Downturn

On August 29th, major US stock indices saw a significant decline, mirroring similar drops seen in the crypto market. This coincided with substantial liquidations across both assets, signaling heightened volatility. Cryptocurrency markets experienced sharp fluctuations with over $179 million in liquidation trades within a short period. Large cryptocurrency holders were also observed engaging in significant Bitcoin and Ethereum trades.