Bitcoin Plunges Below $84K After $115B Sell-Off Wipes Out Weekly Gains

The cryptocurrency market experienced a significant downturn on Friday, with Bitcoin (BTC) plummeting below $84,000 after a massive $115 billion sell-off. This sudden decline erased all the gains made earlier in the week, leaving investors and analysts scrambling to understand the underlying causes and potential implications for the broader market.

The sell-off was part of a broader risk-off sentiment that swept through financial markets, driven by a combination of macroeconomic concerns and geopolitical uncertainties. The core Personal Consumption Expenditures (PCE) price index, the Federal Reserve's preferred inflation gauge, rose 0.4% in February, exceeding expectations and marking the largest monthly increase since January 2024. This pushed the annual core inflation rate to 2.8%, slightly above the 2.7% anticipated by economists. The broader PCE price index, which includes all items, rose 0.3% for the month and 2.5% year-over-year, matching forecasts.

The hotter-than-expected inflation report soured the outlook for sooner Federal Reserve rate cuts, triggering a sea of red across risk assets. The S&P 500 and the tech-heavy Nasdaq index closed lower on Thursday, while most Asian stock indexes slumped early Friday. In such environments, investors typically move away from volatile assets like cryptocurrencies, favoring traditional safe-haven assets such as gold. Gold was trading at a record high in Asian trading on Friday.

The sell-off in Bitcoin was exacerbated by the anticipation of President Donald Trump’s reciprocal tariffs, which are set to come into effect on April 2. This has heightened investor concerns about an all-out global trade war, leading to a broader risk-off sentiment in financial markets. As a result, investors have reduced their exposure to risk assets, including cryptocurrencies, and have moved towards traditional safe-haven assets such as gold. This shift is evident in the performance of gold-backed cryptocurrencies, which have seen their market capitalization climb above $1.4 billion in March, countering the market’s bearish trend.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact of macroeconomic factors on cryptocurrency prices.

The sell-off in Bitcoin was also driven by a broader market sell-off in U.S. stocks, with the S&P 500 and the tech-heavy Nasdaq index down 2% and 2.8%, respectively. This correlation between Bitcoin and traditional markets highlights the interconnectedness of global financial markets and the impact