Bitcoin Drops to Lowest Point in 2 Months as Gold and Equities Lose Recent Gains, Crypto Market Liquidations Exceed $800 Million

Bitcoin Drops to Lowest Point in Two Months Amid Market Volatility

Bitcoin’s value slid to its lowest level in two months on Thursday, mirroring declines seen in both stock markets and precious metals as Microsoft’s shares took a significant hit following its earnings report.

According to CoinGecko, Bitcoin was recently trading near $84,400, reflecting a 5% drop over the previous 24 hours. Other major cryptocurrencies experienced even sharper losses: Ethereum fell by 6.4% to $2,800, while Solana tumbled 6.8% to $117.

Liquidations in the crypto market soared, with CoinGlass reporting that over $800 million in leveraged positions were closed in the past day. Long traders bore the brunt, losing nearly $700 million, and a single $31 million position was liquidated on Hyperliquid.

Precious Metals and Equities Also Retreat

After briefly surpassing $5,600 per ounce on Wednesday, gold prices slipped 0.6% to $5,300. Silver also declined, dropping 0.8% to $112 per ounce.

Microsoft’s stock price plunged more than 12%, recently trading around $422. Despite the company’s second-quarter earnings beating analyst forecasts, concerns over slower growth in cloud services and reduced capital expenditures unsettled investors.

The Nasdaq Composite, dominated by technology stocks, sank over 2%, wiping out much of its gains for the year. Earlier this week, the index had reached a new all-time high, as had the S&P 500, which also declined by 1.1%.