Cryptocurrency Market Suffers Decline Amid Sector Slump

Bitcoin's rebound momentum has come to an end as the cryptocurrency market experienced a sharp decline on Monday. This downturn was closely tied to a significant drop in the software and private equity sectors.

The US stock market took a hit, with the software sector experiencing another 5% decline. The private equity stocks continued their downward trend.

LMAX strategists observed that Bitcoin's behavior is shifting towards being a 'high-beta risk asset', rather than its traditionally perceived role as 'digital gold'. This change in behavior may be attributed to investors pulling out of high-risk assets.