Digital assets continue to be battered following a difficult week, with Ether falling to its lowest level in over a year.

The world's second-largest cryptocurrency, Ether, tumbled more than 10% at one point on Friday to $1,593, its lowest level since April 2025. Bitcoin dropped as much as 4.9%, falling to just above $60,438. Both subsequently recovered some of those losses.

Smaller cryptocurrencies fared worse, with so-called privacy coins taking a particularly heavy hit. Zcash plunged more than 50% in 24 hours, its largest drop since May 2021, following news of a potential security vulnerability, while Monero fell as much as 17%.

The decline extends the longest losing streak for Bitcoin since August, which began after Strategy Inc. announced on Monday its first sale of a small amount of Bitcoin since 2022. Meanwhile, persistent outflows from U.S. exchange-traded funds linked to the crypto market, coupled with the decoupling of cryptocurrencies from record-setting tech stocks, have further eroded investor confidence.