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Nasdaq 100 Drops 4.5% Records Worst Performance of 2026, Bitcoin Falls to $59,000 Area

Massive sell-offs hit the U.S. stock market on June 5, forcing the Nasdaq 100 index to plummet sharply by 4.5% and record the worst daily loss of 2026. This market decline was triggered by the release of May's Non-Farm Payrolls data, which showed 172,000 new jobs. The figure, significantly above expectations, shattered the narrative of monetary easing and sparked a liquidation storm as investors anticipated potential further interest rate hikes.
​This panic created a domino effect that destroyed nearly all asset classes simultaneously. The U.S. stock market lost over $1 billion in value, tech giant Nvidia experienced a market cap wipeout of $275 billion, and the gold market was swept with capitalization losses of up to $1 trillion. This extreme selling pressure also pushed Bitcoin below $60,000, and heavily impacted altcoins like Ethereum, which plunged to $1,500, and Solana, which sharply declined to $65.
​The close correlation between tech stocks and digital assets confirms the massive flash de-risking actions by major institutions. The free fall of Nasdaq limited recovery options, causing Bitcoin to remain weak at the psychological level of $59,000 due to liquidity drought. Market participants are now more inclined to park their capital in cash or bonds, allowing the risk asset ecosystem to undergo a total cleansing.