Crypto Slump Intensifies Ahead of $22 Billion Options Expiry

Bitcoin and Ether extended losses amid an overall decline in risk sentiment in what’s turning out to be a volatile week for digital assets, with more than $140 billion in market value erased and a large options expiry looming.

Ether fell as much as 8.2% to below $4,000, its weakest level in nearly seven weeks, before paring the drop. Bitcoin slipped below $110,000 for the first time in four weeks, and was down about 3.3% as of 3:27 p.m. in New York. More speculative tokens such as Dogecoin and Cronos were down more, slumping as much as 9.4% and 10%, respectively.