Bitcoin and companies tied to cryptocurrencies continued their downward trend, mirroring a broader tech market sell-off. Bitcoin, which hit a high of $126,210.50 on Oct. 6, dropped over 7% to below $85,000, marking a 33% decline in just 8 weeks. Stocks in the crypto industry fell, with Coinbase Global down 4% and Riot Platforms dropping 7%. Strategy, a major crypto treasury company, saw an 8.8% decrease, holding 649,870 bitcoin worth about $55 billion. American Bitcoin, linked to Trump’s sons, fell 9.3%. Factors like market sentiment, institutional selling, and regulatory uncertainty have contributed to the crypto sell-off. Bitcoin futures are down 24% in the past month, while gold futures are up 7%. Analysts note a testing period for Bitcoin’s portfolio integration amid volatility.

Read more at Yahoo Finance: Bitcoin dips below $85,000 in crypto currency rout