Bitcoin Plunges Below $105k, Liquidations Top $1B, Gold Hits All-Time High As “Extreme Fear” Grips Markets
Bitcoin plunged below $105K and gold soared to another all-time high (ATH) as “extreme fear” grips the crypto market. The sell-off followed emerging loan issues at several US regional banks, raising concerns of broader systemic risks. US regional lenders Zions Bancorp and Western Alliance Bancorp disclosed that they were victims of fraud on loans to funds that invest in distressed commercial mortgages. This followed a loan blowup at subprime auto lender Tricolor Holdings and the collapse of First Brands Group, which owed over $10 billion to some of the biggest Wall Street banks. US President Donald Trump add to the downbeat mood when he confirmed that there is a trade war with China. The Crypto Fear & Greed Index plummeted six points into “extreme fear’ territory with a reading of 22. That’s down from 64 last week, when there was still “greed” in the market. Crypto Fear & Greed Index (Source: alternative.me ) Cry...