Crypto Markets Tumble, Bitcoin Slides to 5-Month Low as Global Stocks Flash Red
Good morning Asia, markets are painting a deep shade of red today.
Bitcoin slid to a five-month low on Wednesday, briefly breaking below $100,000 as investors reacted to the prolonged US government shutdown and fresh signs of slowing growth.
Ether led losses, falling more than 12% to $3,179. The drop leaves Bitcoin near its weakest level since May, roughly 20% below its early October peak above $126,000, as enthusiasm fades and liquidity thins.
Liquidations accelerated. About $2.09b of crypto positions were wiped out in the past 24 hours, CoinGlass data showed, including $1.68b from longs. The tally remains far below October’s record $19b washout, yet traders have turned more cautious since that rout.
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