A rapid fall in bitcoin at the beginning of this month is now symbolic of large scale liquidation of leveraged positions. But it won't affect equities much.

The UK budget presented today played out as per our expectations with higher taxes, higher fiscal buffer and lower gilt issuance against market estimates.

This week is starting on a brighter risk out look as US equity futures & Bitcoin show some recovery on account of better pricing of a Dec Fed cut post New York Fed President Williams comments on Friday.

Crypto's current fall had shown that volatility is a feature & not just a temporary bug.

Bitcoin's current sharp fall looks set to accelerate further and is a reflection of global risk off than any risk diversification asset class.

Bitcoin is currently trading at 95k perilously close to the crucial 90k figure. A breach of 90k level might accelerate further downside.