BTC drops to $85,200, marking 2026 lows, while gold gives back gains and Microsoft weighs on the Nasdaq

Gold Collapses After Rally, Bitcoin Slides to One-Month Low as Tech Stocks Falter

Gold soared past $5,600 per ounce Thursday morning—its first move above $5,000 since Sunday—before plunging nearly 10% to below $5,200 in U.S. trading. Silver mirrored the move, falling from $121 to $108 per ounce.

The sell-off was amplified by Microsoft (MSFT), whose shares fell more than 11%, marking one of its worst days since March 2020. The tech giant’s drop pulled the Nasdaq down roughly 1.5%, setting a risk-off tone across markets.

Crypto followed suit. Bitcoin BTC $81,527.05 tumbled from over $88,000 to $85,200, its lowest level in over a month, down 4.5% in 24 hours. Altcoins were hit harder: Ethereum ETH $2,544.07, Solana SOL $109.95, DOGE $0.1068, and ADA $0.2983 each fell 5%-6%.

Among crypto stocks, Strategy (MSTR), the largest corporate bitcoin holder, dropped 8%, hitting 52-week lows and levels last seen in September 2024. Other decliners included Bullish (BLSH), Twenty One Capital (XXI), Circle (CRCL), and Coinbase (COIN), down 4%-8%.

Volatility spiked, with the S&P 500 VIX climbing more than 16% to 19—the second-highest since late November—while the U.S. Dollar Index (DXY) rebounded to 96.6 from Wednesday’s 95.5 low, pressuring risk assets further.