Bitcoin slides to $85K as global selloff sweeps stocks, tech, and gold

Bitcoin fell over 4% to approximately $85K as a broad risk-off sentiment swept global markets, causing declines in equities, technology stocks, and gold. The downturn in US equities was exacerbated by an 11% drop in Microsoft shares following its earnings report, which dragged down the broader tech sector including Tesla, Google, and Nvidia. The selloff was not limited to stocks; gold reversed sharply from a record high, falling nearly 5% to around $5,100. This market turbulence triggered significant liquidations in the crypto space, with over $360 million liquidated in the preceding hour, predominantly long positions. Major cryptocurrencies mirrored Bitcoin's decline, with Ether, Solana, and XRP all experiencing drops of around 5% to 6%.

(Source：Crypto Briefing)