Word on the Street: Crypto markets resilient during stock market route

Two weeks ago the “October effect” appeared to be gripping both the stock market and the crypto markets with the S&P index moving in lockstep with bitcoin. However, this week bitcoin has been more stable than the equity markets, flat on the week, while the stock market rout erased the gains made since the start of the year. The total crypto market capitalization is down slightly since Monday to around $209b, after touching a weekly high of ~$212b.