Bitcoin price breaks $85,000 as $1 billion in crypto bets get wiped out — is $70,000 next?
Bitcoin plunged as much as 6.8% to $83,240 on Thursday, triggering over $1 billion in liquidations as leveraged crypto positions were forced closed. The drop followed a sharp sell-off in U.S. tech stocks, with Microsoft shares falling 10%. Analysts flagged $84,000 as a key support level, warning a break could push prices toward $70,000. Gold also tumbled more than 5% after hitting a record high.