Shares of several popular altcoins, including Shiba Inu SHIB/USD, are trading lower Monday evening in sympathy with apex cryptocurrency Bitcoin BTC/USD and second-largest market cap crypto, Ethereum ETH/USD.
Stocks, Crypto Volatile Monday
The broader cryptocurrency sector fell suddenly during Monday’s U.S. after-hours trading, despite a lack of crypto-specific news. The drop could be amid overall market volatility, as major indices were volatile ahead of Monday’s close as the market awaits this week’s midterm election results. Investors are also anticipating upcoming CPI data.
At the time of publication and per simulations of the election by FiveThirtyEight, simulated 40,000 times to see which party wins the Senate most often, Republicans have a 55% chance of taking control of the U.S. Senate and an 83% chance of taking control of the U.S. House.
According to data from Benzinga Pro, Shiba Inu is trading lower by 3.21% to $0.00001160.