Bitcoin Drops 5% and Falls Below $80,000 After Nasdaq Slump
Massive sell-off in tech and chip stocks hits crypto assets and wipes out leveraged positions across global markets
The price of Bitcoin saw a sharp decline on Thursday morning. The asset dropped from levels above $80,800 to the $76,000 range within a few hours.
This devaluation followed a negative trend on the US stock exchange. The Nasdaq index recorded significant losses due to the drop in chip and artificial intelligence companies. The S&P 500 also fell and erased gains from the previous session.
The technology sector was hit hard by political uncertainty. Investors fear new restrictions on the expansion of data centers in the United States. Analysts note that a significant portion of the capacity projected for 2028 could face disruptions.
Market volatility triggered a ripple effect on digital assets. About $370 million in leveraged positions were liquidated in just one hour. Most of the losses hit investors who were betting on continued price increases.
Bitcoin's performance has shown a direct correlation with the tech sector throughout the year. Many cryptocurrency miners now operate artificial intelligence infrastructure. This alignment causes regulatory and political risks to affect both markets simultaneously.
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