This BlackRock crypto is the biggest market loser among top 100 coins

Key Points

1. SPX6900 (SPX), BlackRock’s third-largest holding, plunged by 17.44% within 24 hours after the Federal Reserve's July 31 decision to leave interest rates unchanged.

2. At press time, SPX was trading at $1.64, with a market cap of around $1.54 billion and a daily trading volume of approximately $129.1 million.

3. The recent pullback follows a 204% rally over the past 90 days, with SPX6900 breaking below a rising wedge formation, suggesting a trend reversal.

4. The crypto markets lost $150 billion in value, dropping from $3.89 trillion to $3.74 trillion, with altcoins suffering the most.

5. The Altcoin Season Index dropped sharply to 34, and SPX’s 30-day correlation with BTC rose to 0.82.