IG Markets Analyst: Cryptocurrency is largely at the "forefront" of risk assets

IG Markets analyst Tony Sycamore emphasized in an interview that the significant contraction this week reminds us that cryptocurrencies are largely at the "cutting edge" of risk assets. Sycamore believes: "This is a position washout, driven by some concerns about economic recession and hard landing, as well as worries about war, because conflicts between Israel and Hezbollah continued over the weekend, and the U.S. is also strengthening its military presence in the region."