Bitcoin plummets below $91,000 amid global tech stock sell-off

Bitcoin has taken a sharp nosedive, plunging below $91,000 following a wave of panic-driven selling in technology stocks worldwide.

The flagship cryptocurrency tumbled 5% earlier in the day to hit $91,000, marking its lowest level since February 3.

At the time of reporting, Bitcoin had extended its losses, falling over 6% to trade at $90,951.

The broader cryptocurrency market also suffered heavy losses.

Ethereum slumped 11% to $2,500, while other major altcoins, including Solana, XRP, and Dogecoin, experienced even steeper declines. Overall, the market saw a collective loss exceeding 6% as investor sentiment deteriorated.

The sudden downturn coincided with a notable decline in US equities, particularly in the technology sector.

The Nasdaq Composite fell by more than 1% amid growing concerns about Nvidia’s upcoming financial results, while the S&P 500 extended its losing streak for a third consecutive session.

Adding to investor worries, former US President Donald Trump confirmed that tariffs on imports from Canada and Mexico would proceed, further dampening market confidence.

Meanwhile, traders were rattled by a significant security breach at Bybit, one of the world’s leading crypto exchanges, where over $1.4 billion in Ethereum and staked Ether (stETH) were withdrawn from its hot wallet on Friday.

Market analysts suggest Bitcoin remains in a volatile range and could further test the $90,000 support level as investors closely monitor the Federal Reserve’s next policy decisions.