Bitcoin, the leading cryptocurrency, dropped below the $85,000 mark on Thursday, tracking declines in equities and precious metals. The downturn reflects a widespread risk-averse sentiment affecting various asset classes worldwide.
Investors have moved away from riskier assets as concerns over global economic conditions intensified. This broad sell-off impacted multiple markets simultaneously, including cryptocurrencies, stocks, and commodities.
**Why this matters**
Bitcoin’s price movements often correlate with broader market trends, making it a barometer for investor risk appetite. The current decline highlights the sensitivity of crypto assets to global economic uncertainties and shifts in investor sentiment.
Source: News Source