Bitcoin extended its decline this week, losing nearly $600 billion in total market value since a major crypto crash that began last Friday.

The original cryptocurrency dropped as much as 4% on Friday to around $103,550—its lowest point since June—falling short of its reputation as a safe-haven asset or “digital gold.” This continued slide follows Bitcoin’s all-time high near $126,000 earlier this month and liquidations triggered by widening US-China trade tensions.

Ethereum also slipped below $3,700, retreating approximately 25% from its August peak. Tokens linked to Binance, such as BNB, faced heavy selling pressure after technical glitches contributed to the record liquidation spree. Binance has since offered…