Bitcoin Surges Past $85,000 Amid Nasdaq Record Highs and AI Frenzy

Bitcoin surged above $85,000 on Tuesday after gaining around 5% in 24 hours.

The surge triggered over $1 billion in liquidations of leveraged crypto positions, with about $844 million coming from traders who bet prices would fall.

Nasdaq Composite hit a new intraday record, driven by AI stocks and Alphabet's gains, while Meta shares jumped over 20% since the launch of its Muse AI assistant on September 8.

AMD crossed a $1 trillion market valuation after shares surged 9.6% to a record high on Monday, with investors increasingly viewing AMD as a serious competitor in AI computing infrastructure.