Cryptocurrency joins the global market plunge

According to data from cryptocurrency data provider Coin Metrics, the latest price of Bitcoin has fallen by 4% to $78,835.07. For most of this year, Bitcoin's trading price has been above $80,000, but there have been a few brief falls below this level in recent fluctuations. Bitcoin is currently about 34% lower than its historical high in January. As the flagship variety of cryptocurrencies, Bitcoin's trading performance is often similar to large tech stocks and is frequently seen by traders as a leading indicator of market sentiment. However, last week it went against the overall market crash trend and maintained prices between $82,000 and $83,000 even rising at the end of this week with stock market crashes and gold price declines. Other cryptocurrencies suffered greater losses overnight with Ethereum and tokens related to Solana each plummeting about 10%. The fall in bitcoin triggered a wave of long liquidations where traders betting on an increase in bitcoin prices were forced to sell assets to cover their losses. According to data from cryptocurrency data platform CoinGlass within the past 24 hours more than $181 million worth of bitcoin was liquidated while Ethereum saw liquidations reaching up to $188 million during the same period.