Cryptocurrencies slipped on Thursday, led by declines in ether and bitcoin that triggered widespread liquidations across the market.
Ether (ETH) fell more than 3% to drop under $4,000, sparking multimillion-dollar liquidations, including losses for at least one major whale. Bitcoin (BTC) slid 1.5% to $115,600, nearly wiping out gains from the prior session’s rebound.
The broader market also suffered, with recent outperformers such as ASTR, AVAX, and PUMP recording double-digit losses over 24 hours. The slump tracked weakness in Nasdaq and S&P 500 futures as concerns over a possible U.S. government shutdown weighed on risk sentiment.
Early Warning Signal?
Analysts noted that crypto’s pullback could be a sign of broader market stress.
“Crypto is once again signaling shifts in risk appetite,” said Alex Kuptsikevich, chief market analyst at FXPro. “Altcoins and smaller developed market currencies have been weakening since the Federal Reserve’s rate cut last week, and major U.S. indices began following this trend from Tuesday onward.”
