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IBM Stock Plunge Triggers Crypto Market Crash

Guavy AI Editorial Team
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IBM
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IBM's stock plummeted over 13% on Monday, its worst single-day performance since October 2000. The drop was triggered by Anthropic's announcement that its Claude code can automate IBM's COBOL modernization.

The news sent shockwaves through the market, causing a ripple effect that weighed heavily on the cryptocurrency market. Bitcoin's price fell below $63,000, dragging the rest of the crypto market down to $2.25 trillion.

Ethereum and XRP were among the worst hit, dropping more than 2% each in the last 24 hours. The overall cryptocurrency market fell 2.1% in the last 24 hours.

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