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On Wednesday, Bitcoin experienced another bout of extreme volatility, losing $6,000 in the span of several hours.
After reaching an intraday high of $88,563, the flagship cryptocurrency ended up plunging all the way to $82,157.
Risk assets are getting hammered by rapidly worsening trade tensions. E-mini S&P 500 futures are down by more than 3%. European shares have also slumped to a two-month low.
The cryptocurrency market could become even more volatile this week. Roughly $2.5 billion in crypto options are expected to expire on Friday, according to Deribit.
Bitcoin is currently trading at $83,621, according to CoinGecko data.
CoinGlass data shows that nearly half a billion worth of crypto has been liquidated