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four-month low, as cryptocurrencies led a broad flight from riskier assets, spurred by investor worries over lofty tech ‌valuations and uncertainty over near-term U.S. interest rate cuts.Cryptocurrencies are often viewed as a barometer of risk appetite and their slide highlights how fragile the mood in markets has turned in recent days,‌ with high-flying artificial intelligence stocks tumbling and volatility spiking.Bitcoin is down 12% for the week. Its slide follows a stellar run this year that propelled it to a record high above $120,000 in October, buoyed by favourable regulatory changes towards crypto assets globally.But analysts say the market remains scarred by a record single-day slump last month that saw more than $19 billion of positions liquidated.As it plunged through $100,000 last week and headed for $80,000 on Friday, some analysts said bitcoin was reaching levels ⁠that corporate and institutional investors on average paid for their ‌tokens, and where they might have to sell to prevent losses.Bitcoin has erased all its year-to-date gains and is now down 12% for the year, while ether has lost close to 19%."If it's telling a story about ‍risk sentiment as a whole, then things could start to get really, really ugly, and that's the concern now," Tony Sycamore, a market analyst at IG, said of the fall in bitcoin.CRYPTO TREASURIESThe plunge on Friday will compound problems for so-called crypto treasury companies, which have been big buyers of bitcoin and other cryptocurrencies this year.These ​companies hold the crypto on their balance sheets in the hope the price rises. Standard Chartered has estimated that a drop below $90,000 for bitcoin could ‌leave half of these companies' holdings "underwater" - a term which typically refers to holding assets worth less than what was paid for them.Analysts say the companies could be forced to raise new funds or sell down their crypto holdings, putting further downward pressure on prices.Listed companies collectively hold 4% of all the bitcoin in circulation, and 3.1% of ether, Standard Chartered estimates."The procyclical nature of bitcoin treasury companies is fully obvious now, if it wasn’t obvious six months ago," Brent Donnelly, president at analytics firm Spectra Markets, said in a note.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,602.99 +64.23 (+0.98%)Dow 3046,245.41 +493.15 (+1.08%)Nasdaq22,273.08 +195.03 (+0.88%)Russell 20002,369.59 +64.48 (+2.80%)VIX23.43 -2.99 (-11.32%)Gold4,079.50 +19.50 (+0.48%)PortfolioSign in to access your portfolioSign inTop gainersBLLN BillionToOne, Inc. 110.00 +14.32 (+14.97%)ADPT Adaptive Biotechnologies Corporation 18.61 +2.29 (+14.03%)KYIV Kyivstar Group Ltd. 12.93 +1.41 (+12.24%)CAVA CAVA Group, Inc. 48.92 +5.33 (+12.23%)HTFL Heartflow, Inc. 30.85 +3.18 (+11.49%)Top losersESTC Elastic N.V. 70.04 -12.04 (-14.67%)VEEV Veeva Systems Inc. 244.06 -26.44 (-9.77%)POST Post Holdings, Inc. 99.42 -7.66 (-7.15%)FRMI Fermi Inc. 14.34 -1.07 (-6.94%)MENS Jyong Biotech Ltd. 30.74 -2.06 (-6.28%)Most activeNVDA NVIDIA Corporation 178.88 -1.76 (-0.97%)OPEN Opendoor Technologies Inc. 6.75 +0.59 (+9.58%)ONDS Ondas Holdings Inc. 6.74 +0.47 (+7.42%)PLUG Plug Power Inc. 1.9800 +0.0900 (+4.76%)TSLA Tesla, Inc. 391.09 -3.96 (-1.00%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 84,026.33 +224.16 (+0.27%)ETH-USD Ethereum USD 2,732.75 -9.29 (-0.34%)XRP-USD XRP USD 1.91 -0.03 (-1.35%)^GSPC S&P 500 6,602.99 +64.23 (+0.98%)BTC-EUR Bitcoin EUR 72,942.67 +194.59 (+0.27%)Top economic events