Bitcoin, Ethereum and Solana plunged on Saturday as retail traders digested a busy market week that saw commodities move wildly and the president issued a long-awaited announcement Donald Trump About his next choice Fed President.

In afternoon trading, BitcoinThe world’s largest cryptocurrency by market capitalization fell below $78,000, down 7.6%. Ethereum fell about 11% to $2,382.57, while Solana It fell 13% to $101.91.

Cryptocurrency slide comes amid Trump’s choice of Kevin Wash Leading the Federal Reserve, supporting Dollar Because it eases concerns about central bank independence. A stronger U.S. dollar could make Bitcoin less attractive to investors as an alternative currency.

If confirmed by the U.S. Senate, Warsh will replace the current chairman Jerome Powell. Powell’s current term as chairman ends in May. Trump has Criticize Powell — and especially his reluctance to cut interest rates — almost since the Fed chairman took office in 2018.

The cryptocurrency’s slide is the latest blow to retail investors, who have been hit by a sharp sell-off in cryptocurrencies. spot silver Friday was the market’s worst day since March 1980.

spot silver It fell 28% to $83.45 an ounce, near the day’s low. Silver futures plummet 31.4%, closing at $78.53.