Precious metals crash, with silver plunging 35%, gold 12%; bitcoin slips back to $82,000

Crypto bulls who have theorized that bitcoin can't begin rising until money flows out of red-hot precious metals are about to find out if they were correct. What to know : Gold and silver plunged sharply from record highs on Friday, with silver down more than 30% and gold down more than 10%. Bitcoin was making an attempt at holding steady, but remained not too far off of the week's low at $82,200. The metals rally siphoned capital out of crypto, but the dynamic is changing, Wincent director Paul Howard said.