Bitcoin Falls to $86,100 as Nasdaq Drops 2.15% Thursday
Bitcoin dropped to an intraday low of $86,100 at 3:00 AM on Nov. 21 before recovering to $87,200, while Ethereum briefly fell below $2,800 and rebounded to $2,850, BlockBeats reports. U.S. equities closed lower with the Nasdaq Composite down 2.15%, the S&P 500 declining 1.55%, and the Dow Jones falling 0.84%. Substantial outflows from spot Bitcoin and Ethereum ETFs, combined with weakness in U.S. equities, contributed to downward pressure on cryptocurrency markets, with Bitcoin showing pronounced declines during U.S. trading hours followed by recoveries in Asian sessions. Market pricing reflected a 39.6% probability of a 25-basis-point Federal Reserve rate cut in December.