Crypto Markets Today: Liquidity Crunch Drives Bitcoin, Ether to Double-Digit Losses

Crypto markets experienced a significant plunge toward April lows on Friday, driven by a lingering liquidity crisis that originated during October's sell-off and liquidation event, leaving order books thin and amplifying price swings. Bitcoin (BTC) and Ether (ETH) both fell approximately 10%, with BTC trading near $82,200 and ETH near $2,700. Altcoins fared worse, with several tokens like INJ, NEAR, ETHFI, APT, and SUI losing between 16% and 18% of their value, pushing the market sentiment to extreme fear levels not seen since mid-2023. This illiquidity also affected U.S. equities, with the Nasdaq 100 trading below its October high. Volatility indices for both BTC and ETH surged, indicating growing uncertainty, while open interest in Bitcoin futures crashed as leverage bets were shaken out, and options flows showed a clear bias toward put options.

(Source：CoinDesk)