Bitcoin tumbled sharply on Thursday, sliding to a 2026 low of $84,300, as a sudden reversal in gold prices and a steep selloff in U.S. technology stocks sparked broad risk-off sentiment across markets.
The decline accelerated during U.S. morning trading, with Bitcoin shedding nearly $3,000 within a few hours after trading above $88,000 earlier in the session. The world’s largest cryptocurrency was down about 4.5 per cent over the past 24 hours, marking its weakest level since mid-December.
The selloff coincided with extreme volatility in precious metals. Gold, which had surged to a record $5,600 per ounce earlier in the day, reversed sharply and plunged nearly 10 per cent within minutes to below $5,200. Before Sunday night, gold had never traded above $5,000 an ounce. Silver followed a similar pattern, dropping from $121 per ounce to around $108.
Equity markets also came under pressure after Microsoft shares plunged more than 11 per cent following the company’s fourth-quarter earnings report. The sharp drop weighed heavily on the broader tech sector, dragging the Nasdaq down roughly 1.5 per cent.
Market participants said the simultaneous pullback in gold, cryptocurrencies, and tech stocks points to aggressive profit-taking and heightened sensitivity to earnings and macro signals, after months of strong gains across risk assets.
