Bitcoin briefly approached $85,000 on Wednesday evening before quickly retreating to approximately $81,800, completing a $3,000 "round trip" in less than a day and falling about 2% within 24 hours. According to CoinGlass data, this volatility resulted in approximately $431 million in liquidations across both long and short positions, with long positions accounting for $210 million of liquidations in the past 12 hours. Nasdaq 100 futures fell 1.1% after Tesla lowered its spending forecast and Lam Research issued a weak outlook, with disappointing tech earnings also exacerbating market sentiment. Meanwhile, Monero (XMR) bucked the trend, rising 11%.