Bitcoin tumbles to 2026 low of $85,200 as gold reverses big gains, Microsoft leads Nasdaq lower

Soaring to $5,600 at one point earlier on Thursday, gold quickly pulled back to the $5,400 level in U.S. morning trade. What to know : Already sitting on overnight losses, bitcoin's decline accelerated in U.S. morning trade, with the price falling back to $85,200, a new low for 2026. The quick selloff came amid a reversal in gold’s breathtaking rally, which had sent the yellow metal soaring above $5,600 at one point Thursday before quickly falling back to $5,400. The Nasdaq was also sharply lower, falling 1.5%, as Microsoft declined more than 11% following its fourth-quarter earnings report.