Bitcoin fell more than 4% to around $85K as a broad risk-off move swept global markets, with the leading digital asset dropping alongside equities, tech stocks, and gold.
The S&P 500 declined over 1% while the Nasdaq slid more than 1.8%, with US equities opening sharply lower following a steep drop in Microsoft shares.
Microsoft fell about 11% after its earnings report, dragging the broader technology sector lower. Tesla dropped around 2%, Google slipped roughly 2.5%, and Nvidia fell about 1.5%.
The selloff extended beyond equities. Gold, which topped $5,500 on Wednesday at a record high, reversed sharply and fell nearly 5% to around $5,100 as investors cut exposure across asset classes.
The market turbulence triggered heavy liquidations in crypto. More than $360 million in positions were liquidated over the past hour, according to Coinglass data, driven overwhelmingly by long positions.
Of that total, roughly $350 million came from longs compared with about $10 million in short liquidations. Total liquidations over the past 24 hours approached $700 million.
Bitcoin’s decline was mirrored across major tokens. Ether fell about 6% to near $2,800, Solana dropped roughly 5% to around $118, and XRP slid about 5% to near $1.80.