Bitcoin fell below $84,000 on Thursday as a tech-led selloff spread across risk assets, pulling down equities and precious metals at the same time.
Liquidations and price levels
The decline triggered a wave of forced unwinds.
Coinglass data showed more than $1 billion in leveraged positions were liquidated over the past 24 hours, with most losses coming from long positions.
Bitcoin was trading slightly below $84,000, around levels last seen in April.
Breadth remained weak
Bitwise head of research Ryan Rasmussen pointed to broad weakness across major tokens before the selloff accelerated.
He noted that only two of the top 20 assets were up double digits over the past week.
Tech and metals reverse
U.S. equities fell sharply, led by technology shares after earnings-related disappointment.
Microsoft dropped more than 12%, its worst single-day decline since March 2020.
Gold, which had recently hit successive record highs, fell from around $5,500 to near $5,150 before rebounding to roughly $5,300.
Silver dropped from an all-time high near $121 per troy ounce to about $108 within an hour, then recovered to around $113.
Shutdown risk in Washington
Investors also faced renewed political uncertainty after lawmakers failed to advance a procedural vote on a government funding package, raising the risk of another U.S. government shutdown.
A similar shutdown in early October lasted 43 days and coincided with a roughly 15% decline in bitcoin prices.
A comparable move from current levels would put bitcoin slightly above $70,000.
