Bitcoin drops below $90,000 for the first time since April then rebounds

Cryptocurrency Market Overview - Bitcoin briefly fell below $90,000, reaching around $89,500, marking its first drop below this threshold since April [1] - The cryptocurrency had previously surged to nearly $125,000 in early October, driven by optimism regarding a pro-crypto administration [1] Company Performance - Companies associated with cryptocurrency are experiencing significant downturns, with Robinhood Markets' shares down 21% in November after tripling earlier this year due to crypto trading [2] - Coinbase Global's shares have decreased by 23% amid the broader market sell-off [2] Broader Market Trends - The decline in cryptocurrency is part of a larger sell-off in global markets, with the S&P 500 and Germany's DAX both down nearly 3%, and Japan's Nikkei off by 7% [2] - Nvidia, a key player in the AI sector, has also seen a 9% drop, indicating a wider trend affecting high-flying tech stocks [2]