Cryptocurrencies join the global market crash

Bitcoin's latest price fell 4 percent to $78,835.07, according to Coin Metrics, a cryptocurrency data provider. It has been trading above $80,000 for most of this year, though there have been a few brief dips below that level in recent volatility. Bitcoin is down about 34 percent from its all-time high in January. The flagship cryptocurrency, Bitcoin typically trades like big tech stocks and is often seen by traders as a leading indicator of market sentiment. Last week, however, it bucked the broader market's plunge, holding its price between $82,000 and $83,000, and ending the week up as the stock market plunged and even gold prices fell. Other cryptocurrencies suffered even bigger losses overnight. Ethereum and Solana-related tokens each plummeted about 10 percent. Bitcoin's decline triggered a wave of long liquidations, with traders betting on bitcoin's price rise forced to sell assets to cover their losses. According to cryptocurrency data platform CoinGlass, bitcoin's long liquidations exceeded $181 million in the past 24 hours. During the same period, Ethereum's long liquidations reached $188 million.