Crypto Market Plunges as Bitcoin Drops $4K in Sudden Friday Selloff

Crypto market crashed suddenly on Friday morning, with Bitcoin down over $4,000 and other major cryptocurrencies seeing double-digit losses
No major news triggered the flash crash, but inflation data earlier in the week and regulatory uncertainty may have contributed
The crash accelerated around noon ET and liquidations of leveraged crypto positions topped $668 million in just 4 hours
The breadth of the decline is unique - not just Bitcoin but many smaller tokens saw huge drops
Volatility may continue with speculative money flowing out of crypto into safer assets as interest rates rise and earnings season starts