Cryptos Just Flash-Crashed

Shortly before 11pmET, cryptos suddenly jerked lower with Bitcoin flash-crashing over 15% before bouncing back...

Bitcoin was hit the hardest...

Bitcoin collapsed over $1500 before quickly ramping back higher...

Bitcoin retraced Fib61.8% of the latest surge before bouncing back above $7000...

Notably the flash-crash in Bitcoin took it down to the early April lows that started the epic Bitcoin ramp relative to the rest of cryptos...

No immediate catalyst for the moves in crypto but we note that China's offshore yuan started to accelerate lower at the same time...

As did US equity futures...

After commentaries run by Chinese state media outlets on Friday suggest the nation has little no interest in continuing trade negotiations with the U.S. for now.