BTC Dips Below $80K as Crypto Sell-Off Worsens

Cryptocurrencies prolonged a sell-off on Monday as threat belongings together with equities tanked through the early U.S. hours.

Following a bounce to round $84,000 earlier within the day, maybe buoyed by Strategy’s $21 billion fundraising plan, bitcoin (BTC) slid under $80,000, down 3.8% over 24 hours. The Ethereum blockchain’s ether (ETH) briefly slipped under $2,000, to commerce close to its weakest worth since November 2023, down round 4%.

The broad-market CoinDesk 20 Index fell 5%, with Solana’s SOL, Cardano’s ADA and Aptos’ APT, Avalanche’s AVAX and NEAR shedding between 7% and 10%.

The ugly motion in crypto markets got here as the already-battered U.S. fairness indexes opened the week sharply decrease, weighing on sentiment. The Nasdaq tumbled over 3% within the early hours of the session, whereas the S&P 500 declined 2%.

Crypto equities additionally felt the warmth. Strategy (MSTR), the most important company BTC holder, and crypto change Coinbase (COIN) misplaced greater than 10%.

With the digital asset summit on the White House and President Donald Trump’s Bitcoin reserve government order already behind us, crypto markets have run out of near-term constructive catalysts and are more and more weighed down by considerations a few tariff struggle and a slowing economic system.

The economic system is in a “transition” part, Trump mentioned in an interview with Fox News on Sunday, refusing to rule out a recession this 12 months.

“Until crypto finds a new narrative, we’re likely to see an increased correlation between BTC and equities in the near term,” hedge fund QCP mentioned in a Telegram broadcast. “Both risk assets are currently trading near their recent lows, and with tariff risks still looming, volatility could pick up heading into key U.S. macro data releases.”