Crypto markets experienced another significant downturn overnight as Bitcoin and Ether continued to lose value, with a wave of liquidations affecting leveraged traders across derivatives markets.
The selloff intensified overnight, with Bitcoin trading at eighty-two thousand six hundred thirteen dollars and forty-four cents and Ether at two thousand seven hundred forty-two dollars and sixty-three cents, reflecting further declines of two point seven percent and three point five percent, respectively, compounding Thursday's poor performance.
This downturn coincided with substantial losses in precious metals, where silver now trades at ninety-six dollars after a twenty percent drop from Thursday's peak of one hundred twenty-one dollars. Gold has also fallen below five thousand dollars, declining by eleven percent from Wednesday's high of five thousand six hundred dollars.
U.S. equity index futures saw a slight decline, while the dollar index posted a zero point fifty-seven percent gain, buoyed by expectations regarding the potential appointment of Kevin Warsh as the new chair of the Federal Reserve.
The global market rout, which saw Bitcoin reach its lowest level since November, resulted in one point eight billion dollars in liquidations across crypto markets, as leveraged traders were caught off guard by the sharp decline despite a weak start to the year for crypto assets.
The Bitcoin-dominant CoinDesk twenty Index is now down by six point six percent since the beginning of the year, while the altcoin-heavy CoinDesk eighty Index has outperformed its counterpart, losing two point twenty-eight percent.