Bitcoin prices were pushing into fresh April lows on Friday, and some say the selling, which could drag stocks with it, has more to go.

As per Glassnode, the realized losses on Bitcoin have surged to levels last seen during the FTX collapse. The crash is among being compared to the 2021-22 crash when crypto companies like FTX and Celsius went bankrupt.

Crypto market crash sees no signs of stopping, with $1.35 trillion in market cap wiped out since October. Over the past 24 hours, another $1 billion in Bitcoin, Ethereum, Solana, XRP, and other top altcoins were liquidated.

Bitcoin has fallen to a seven-month low and ether to a four-month low. Cryptocurrencies have lost around $1.2 trillion worth of value in just six weeks.

The crypto market is in turmoil as Bitcoin and Ethereum face steep declines, with Bitcoin dropping 34.5% and Ethereum 45% from their peaks. The market cap has fallen below $3 trillion, driven by tech sector volatility and macroeconomic uncertainties,

The crypto market crash continued its strong downtrend on Friday, with Bitcoin tumbling to $85,000. Ethereum plunged by 7.65%

Bitcoin tumbled with other risk assets on Thursda, plunging after stocks saw a huge reversal after earlier gains.

Bitcoin dropped deeper into a bear market as investors fret over liquidity, Fed rate cuts, and a broader tech sell-off that's crushed risk appetite.

Gunden built his wealth as an early Bitcoin arbitrage trader on Tradehill and the now-defunct Mt. Gox, where he reportedly handled tens of thousands of BTC before the exchange collapsed in 2014. His recent moves align with a broader wave of retail selling, amplified by fears that the latest bull cycle may be nearing exhaustion.