‏$BTC ‌

$GT
Objectively
There is no single reason you can point your finger at and say this is the cause of this mass collapse of all markets, currencies, and commodities at the same time.

But there are a number of reasons that have all come together at the same time to offer us this bloody night in the markets:

AI spending concerns:
Microsoft's earnings reports showed massive costs on AI without sufficient immediate returns, raising doubts about the sustainability of the tech bubble.
-
Trump's remarks on the dollar:
His support for a weaker dollar sparked a (debasement trade) "deterioration trade," prompting investors to flee to gold, silver, and real assets.
-
Geopolitical tensions:
Trump's warnings of possible military strikes against Iran, which have increased the demand for safe havens.
-
Fed Decision:
Keeping interest rates largely unchanged, with relatively high inflation persisting.
-
Take Profit:
Gold hit an all-time high of $5,600 an ounce today, so it's natural to see a correction of more than 4% to near $5,140.
-
General state of blurry and unclear:
Markets hate uncertainty.

Perhaps each of these reasons alone does not explain the current situation
But the cumulative of these causes over a long period of time has led to this unprecedented mass decline.

$BTC