Crypto traders and investors started out the week with a major shock to the markets. As assets across the blockchain industry went into a collective dive on Monday, users took to Twitter to voice their dismay (or in some cases jubilation) with the current state of crypto.
Inflation, potential interest rate hikes, a looming recession, and yet another DeFi fiasco have all contributed to the current onslaught seen in markets on Monday. As a result, Bitcoin’s (BTC) price plunged to levels not seen since late 2020, several crypto exchanges limited users from withdrawing their tokens, an increasing number of Web3-centric companies announced layoffs, and the floor prices of various nonfungible token (NFT) projects tumbled.
Taking a look at a few tweets from seasoned crypto enthusiasts shows the overall sentiment.