Bitcoin collapses to $86K as $360M in longs get wiped out and Nasdaq flips red for 2026
Bitcoin is falling fast again. The price dropped $2,000 in just minutes, now sitting at $86,888 on Coinbase, after $360 million worth of levered longs were liquidated in the last hour.
The crash puts Bitcoin down 9% in 48 hours, and altcoins are bleeding too. Ethereum is down 7.4%, now at $2,939, while Solana is off 5.4%, at $126.01. XRP and BNB are also down over 4% each.
Gold is still rallying hard. Futures are now trading at $4,820, inching closer to that $5,000 level as panic spreads across risk assets.
U.S. equities got slammed after Donald Trump doubled down on his Greenland tariffs, just before his Davos appearance on Wednesday.
The Dow sank 870 points, or 1.8%, while the S&P 500 dropped 2.1%, and the Nasdaq fell 2.4%. All three just had their worst day since October 10. The drop pushed both the S&P 500 and Nasdaq into negative territory for 2026.
After hours, stock futures are holding slight gains. Dow futures are up 85 points, the S&P 500 is up 0.2%, and the Nasdaq 100 is up 0.1%. But the bleeding in crypto hasn’t stopped, and gold keeps rising.
