Global financial markets are turbulent tonight! At 9 PM Taiwan time (9 AM Eastern Time), a wave of indiscriminate selling has hit the markets. Not only have Bitcoin (BTC) and Ethereum (ETH) both plummeted, but traditional safe-haven assets are also suffering. Spot silver has crashed over 10% in a single day, and spot gold has fallen below the $4,600 level.
(Previous update: Breaking News — Bitcoin drops 5% in a day, falls below $70,000! Funding rates remain bearish)
(Additional background: Bitcoin and gold sell-off simultaneously: Middle East, PPI, and Fed triple impact, market-wide risk-off sentiment)
The global financial markets experienced intense volatility tonight (19th). Around 9 PM Taiwan time (just before the US stock market opens), a massive sell-off pressure emerged, sweeping through both traditional precious metals and the cryptocurrency markets, showing a liquidity contraction characterized by “cash is king.”
Precious Metals Crash: Silver plunges over 10%
In the realm of traditional safe assets, precious metals saw dramatic fluctuations. Among them, silver was hit hardest, with spot silver prices crashing over 10% in a short period, approaching the critical psychological level of $67 per ounce.
Meanwhile, gold also couldn’t escape unscathed. Spot gold prices took a heavy hit, officially breaking below the $4,600 per ounce mark, indicating that even traditional funds are now massively withdrawing from safe-haven assets amid the current market climate.
Crypto Market Sells Off Simultaneously: BTC drops below $70,000
In the cryptocurrency sector, this macro-level selling pressure has also caused significant damage. Bitcoin (BTC) failed to hold support tonight, quickly falling below the $70,000 level, with intraday lows reaching $69,000, completely breaking the bullish defense line.
Ethereum (ETH), the second-largest market cap, also experienced a stunning decline, continuously oscillating downward and now approaching the $2,100 level. Market watchers are closely monitoring whether this wave of selling will intensify with the US stock market open. Investors should strictly manage leverage and position risks.
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