Bitcoin prices fell about 9% on Friday as the cryptocurrency market saw a sharp sell-off, possibly reflecting a broader investor retreat from risk assets.
The digital currency, which hit an all-time high above $108,000 earlier this week, has seen a significant decline, trading below $93,000 around 7 a.m. ET Friday, below its level just a day earlier. The sharp decline comes amid heightened caution in financial markets as investors retreat from more speculative investments.
Bitcoin’s recent peak marked a major milestone for the cryptocurrency, but the subsequent aggressive sell-off points to a volatile environment for risk assets. Bitcoin’s decline is in line with a broader trend of investor uncertainty as markets react to various economic pressures and future outlooks.