Bitcoin drops below $84,000 as tech-led stock selloff pulls metals off record highs
A tech-driven market selloff caused Bitcoin to drop below $84,000, pulling down equities and precious metals.Summary
Global markets experienced a sharp, tech-driven selloff on Thursday, causing a simultaneous decline across cryptocurrencies, equities, and precious metals as risk appetite deteriorated. Crypto market capitalization fell by about 6%, wiping out over $1 billion in leveraged positions, with Bitcoin trading near $84,000 and Ether falling below $2,800. This weakness mirrored declines in U.S. equities, where technology stocks like Microsoft led losses, and precious metals, such as gold and silver, reversed recent record highs. The broader market downturn was also influenced by looming political risk in Washington D.C., as lawmakers failed to advance a funding package, raising fears of another U.S. government shutdown, which previously coincided with a significant drop in Bitcoin prices.
(Source：The Block)