The global crypto market tanked by 5.3 per cent to stand at $1.3T as of 9am IST as the biggest spike in US inflation in 13 years rattled investors. The cryptocurrency market is currently witnessing an unforeseen period of fear on the part of the investors. Contrary to the weekly norm of a bullish investor sentiment, things have been going downtrend for two days in a row after the markets recovered marginally over the weekend. Total trade volume, however, showed a marginal growth of 1.5 per cent.