Bitcoin fell sharply on Thursday, sliding to a 2026 low of $84,300 as a sudden reversal in gold prices and a steep selloff in US technology stocks triggered a big sell-off across tech markets.

The decline accelerated during US morning trade. Bitcoin shed nearly $3,000 within hours after trading above $88,000 earlier in the session. The world’s largest cryptocurrency was down around 4.5 percent over the past 24 hours, its weakest level since mid-December.

The selloff coincided with a dramatic reversal in gold, which had surged to an all-time high of $5,600 per ounce earlier on Thursday before plunging nearly 10 percent within minutes to below $5,200. Prior to Sunday night, gold had never traded above $5,000 per ounce.

Silver prices mirrored the volatility, falling sharply from $121 per ounce to $108.

Equity markets also came under pressure after Microsoft shares plunged more than 11 percent following the company’s fourth-quarter earnings report. The sharp decline in Microsoft weighed heavily on technology stocks, pushing the Nasdaq down around 1.5 percent.