NASDAQ 100 drops 4%, erasing $1.3T; Bitcoin falls below $77K

The Nasdaq 100 fell 4% in the session, erasing roughly $1.3 trillion in market value, while Bitcoin slipped below $77,000 over the same period. The move points to a broad risk-off repricing in which high-multiple growth equities and speculative digital assets sold off together, a pattern typically driven by rising real yields, tightening financial conditions, or a sudden withdrawal of risk appetite across leveraged positions. Nasdaq 100 exposure is concentrated in mega-cap technology names whose valuations are most sensitive to discount-rate shifts, so the index's decline likely reflects duration risk rather than sector-specific news. Bitcoin's correlation with high-beta equities has tended to rise during liquidity-driven drawdowns, making it a transmission point for the same capital-flow pressure. Traders should watch the next Consumer Price Index release and Treasury yield moves for confirmation of whether inflation repricing or a growth scare is driving the selloff.

The Nasdaq-100 (NDX) is the US large-cap tech benchmark. NDX is more sensitive to rate decisions than SPX because of longer-duration cash flows, and heavily concentrated in Tech/Comms names — mega-cap earnings season dominates price action.

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