Now, Bitcoin is falling with precious metals in a broad risk-off trade, reaffirming its status as leveraged beta to risk assets. Smaller digital assets fell more, with Ether, Doge, Cardano and Solana all down at least 7 per cent or more. More than US$1 billion in leveraged positions have been wiped out. Bitcoin prices had remained stagnant even when tech shares and precious metals such as gold and silver rallied in recent weeks. Digital exchange Coinbase Global declined more than 6 per cent, Bitcoin accumulator Strategy tumbled 11 per cent and miner MARA Holdings slumped more than 6 per cent.