Crypto carnage: Bitcoin collapse wipes off $1 trn in the blink of an eye

Bitcoin was last hovering around $35K mark, after falling as low as $34,000

With the blink of an eye, more than a trillion dollars in crypto-market value has evaporated.

The jarring downturn that’s been a hallmark of digital assets in recent weeks continued to play out this week and into Saturday, with Bitcoin at one point losing more than 15% during that stretch. The coin, which is the largest digital token, has dropped more than 50% from a recent peak, and many other cryptocurrencies have lost just as much, if not more. 

The carnage superlatives have been easy to come by: Friday’s decline led to the liquidation of more than $1.1 billion in crypto