Bitcoin took a hit, dropping 6% to hover around $80,000 amidst a broader market sell-off. The cryptocurrency hit a low of $80,548 before recovering slightly to $85,104.38. It’s down 10% for the week and 24% over the last month, reflecting investors’ flight from risk-on assets to safer options like gold.

Pressure in the U.S. stock market led to a rotation out of volatile assets like Bitcoin and AI stocks. The Nasdaq fell 2% as investors showed more interest in safe-havens. Bitcoin’s 9% decline year-to-date contrasts sharply with its record-breaking performance earlier in the year under the Trump administration’s pro-crypto policies.

Read more at CNBC: Bitcoin continues slide that’s roiling markets, threatens to break below $80,000