Bitcoin fell sharply on Friday amid broader investor caution toward risk assets.

Bitcoin dipped below the $93,000 mark earlier in the day before trading above that price in volatile trade.

By around 8:26 ET, bitcoin was trading at $93,809.39, according to Coin Metrics, down around 8% from 24 hours before when it was priced above $102,000.

The cryptocurrency hit an all-time high above $108,000 just this week, but has since sold off aggressively.

The Federal Reserve rattled markets in recent days, as it signaled fewer interest rate cuts next year. Equity markets took a hit, filtering through to crypto assets.

The price of bitcoin price has more than doubled this year, supported by a number of factors including the launch of spot exchange-traded funds and the U.S. presidential election of Donald Trump. He has pledged pro-crypto policies and his victory at the polls helped propel bitcoin to its latest record high.

With some markets on edge due to the Fed, some of the steam has come out of assets that have seen big gains this year.

Tesla, which has been another big beneficiary of Trump’s win, continued its post-election slide with shares falling on Friday in premarket trade. Other big names like Nvidia were also lower during the session.

Bitcoin’s fall also dragged down other cryptocurrencies. Ether was down around 12%, and XRP plunged 10% from 24 hours prior, at around 8:27 a.m. ET.

Amazon workers across seven facilities in New York, Georgia, California and Illinois went on strike Thursday to lobby for better benefits, higher wages and safer working conditions.

The strike, organized by members of the Teamsters union, is intended to pressure Amazon to come to the negotiating table and avoid disruptions during the peak of the holiday shopping season. The union had previously given Amazon until Sunday to agree to bargaining dates for a contract.

“If your package is delayed during the holidays, you can blame Amazon’s insatiable greed,” Teamsters President Sean O’Brien said in a statement. “We gave Amazon a clear deadline to come to the table and do right by our members. They ignored it.”

In a statement to CNBC, an Amazon spokesperson said the Teamsters have been on a yearlong campaign to “intentionally mislead the public.” While the union says it represents thousands of employees and drivers, the protesters at the sites are “almost entirely outsiders,” Amazon said.

“The truth is that they were unable to get enough support from our employees and partners and have brought in outsiders to harass and intimidate our team, which is inappropriate and dangerous,” the company said, adding that it’s “continuing to focus on getting customers their holiday orders.”

A representative for the Teamsters didn’t immediately respond to CNBC’s inquiry about whether outsiders are participating in the strike.

The Teamsters website says that nearly 10,000 Amazon workers have joined the organization. That represents less than 1% of the company’s workforce of 1.53 million, as of Dec. 31, 2023. The union said Thursday’s campaign is the largest strike against Amazon in American history.

Amazon has long opposed unions among its workforce, but efforts to organize started materializing in 2022, when warehouse workers on New York’s Staten Island voted to join a union. Amazon had aggressively fought unionization efforts, so it was a stinging defeat for the company.

In June, employees in the Amazon Labor Union, which spearheaded the Staten Island movement, voted to affiliate with the Teamsters after struggling to negotiate a contract with Amazon.

— CNBC’s Annie Palmer contributed to this report.

WATCH: How two friends formed Amazon’s first U.S. union and what’s next

Micron shares plummeted 16% on Thursday — heading for their worst day since March 2020 and the start of the Covid pandemic — after the chipmaker issued disappointing second-quarter guidance in its earnings report.

The stock fell to $86.78 in early afternoon trading, about 45% down from its all-time high in June.

For the fiscal second quarter, Micron said it expects revenue of $7.9 billion, plus or minus $200 million, and adjusted earnings per share of $1.43, plus or minus 10 cents. Analysts were expecting revenue of $8.98 billion and EPS of $1.91, according to LSEG.

On the earnings call, CEO Sanjay Mehrotra said the company, which provides computer memory and storage, is seeing slower growth in parts of consumer devices and is experiencing “inventory adjustments.”

“Micron expects further delay in the PC refresh cycle and cited pockets of elevated customer inventory in smartphones,” analysts at Stifel wrote in a report to clients. The firm kept its buy rating on the stock but lowered its price target to $130 from $135.

Micron reported an earnings beat from the first quarter, with earnings per share coming in at $1.79, topping the $1.75 average analyst estimate. Revenue jumped 84% from a year earlier to $8.71 billion, meeting estimates. The growth was driven by a 400% increase in data center revenue due largely to demand for artificial intelligence, Micron said.

“We continue to gain share in the highest margin and strategically important parts of the market and are exceptionally well positioned to leverage AI-driven growth to create substantial value for all stakeholders,” the company wrote in its report.

WATCH: Micron shares plunge