seventh straight day, posting its biggest drop since May 2021, and was recently 22% lower over 24 hours. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, dropped 20% as of 13:45 UTC.

Equity markets slid worldwide, with the Nikkei 225 plunging more than 12%. The Stoxx Europe 600 fell 3.3% and the S&P 500 lost 3.0%.

Miners plunged alongside bitcoin. Marathon Digital (MARA) and Iren (IREN) both lost about 11%, as did Hut 8 (HUT). Riot Platforms (RIOT) lost 5.6%.

UPDATE (Aug. 5, 13:54 UTC): Updates prices throughout.

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Sheldon Reback

Sheldon Reback is CoinDesk editorial's Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal's main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk's notifiable limit.