After a week-long rout that erased hundreds of billions in digital-asset value, Bitcoin has again failed to live up to its billing as a safe harbor asset. Once cast as a hedge against market turmoil — a “digital gold” for the blockchain age — the original cryptocurrency stabilized Friday morning in Singapore after sliding alongside global equities and credit to …
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In brief Bitcoin slid from $121,000 to $109,000 in about seven hours Friday. Ethereum hit $3,686 and Solana hovered above $173, per CoinGecko. Liquidations neared $20 billion for the day, including roughly $16.7 billion in longs, after an hour that wiped almost $7 billion. Stocks fell alongside crypto, with the Nasdaq falling 3.6%, S&P 500 down 2.7%, while the Dow …
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