"The world's largest cryptocurrency has tanked to its lowest price since April. Bitcoin is down nearly 2% over the past 24 hours and hit a low of nearly $81,000 late Thursday night-underneath its last floor of $82,175 in November. On Friday, the token posted a modest rebound and now trades at around $82,290, according to data from Binance. Bitcoin's freefall has spread to other cryptocurrencies, including Ethereum, which is down 4% over the past 24 hours to now about $2,660."
"Meanwhile, this week has seen an even more dramatic downturn in the price of precious metals, which until recently had been on an unprecedented tear. Gold is down 11% over the past day and silver has dropped an even greater 31%. Platinum and copper are also down. The volatility in the crypto and metals markets comes as President Donald Trump announced Friday morning that he was nominating Kevin Warsh to succeed Jerome Powell as chair of the U.S. Federal Reserve."
Bitcoin fell to its lowest level since April, dipping to nearly $81,000 before a modest rebound to about $82,290, per Binance. The decline extended to other cryptocurrencies; Ethereum fell roughly 4% to about $2,660. Precious metals suffered steeper losses, with gold down about 11% and silver plunging about 31%, and platinum and copper also weaker. Markets reacted as President Donald Trump nominated Kevin Warsh to replace Jerome Powell as Federal Reserve chair, and investors expressed unease about heavy AI spending by Big Tech. Microsoft's strong earnings failed to calm concerns, and its stock plunged over 10% after hours, amplifying risk-off flows.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]