Cryptocurrencies and US equities slid Tuesday, extending a decline that has both asset classes starting off the second quarter in the red. 

Bitcoin and ether lost 5% and 7%, respectively, over 24 hours, according to data from Coinbase. Bitcoin (BTC) is now trading around $65,200 after managing to stay in the low $70,000 range over the weekend. 

Ether (ETH) hovered at $3,200 Tuesday afternoon, per Coinbase, continuing a selloff that started Monday. 

“The onset of [the second quarter] has been marked by pronounced deleveraging, evidenced by the decline in perpetual funding rates from ~80% to ~11% over the last three sessions,” research analysts at Wintermute wrote in a Tuesday…

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