“The Price Came As the Nasdaq and S&P 500 Stock Indexes Fell Sharply Early Monday as Trump Failed to Quell Worries About A Recession.”, – WRITE: www.coindesk.com
Following A Bounnce to Around $ 84,000 Earlier in The Day, Perhaps Buoyed by Strategy’s $ 21 Billion Fundraising Plan, Bitcoin (BTC) SLID BLOW $ 80,000, Down 3.8% Over 24 Hours. The Ethereum Blockchain’s Ether (ETH) Briefly Slipped Below $ 2,000, to Trade Near ITS Weakest Price Since November 2023, Down Around 4%.
The Broad-Market Coindesk 20 Index Fell 5%, with Solana’s Sol, Cardano’s Ada and Aptos’ Apt, Avalanche’s Avax and Near Lozing Between 7%and 10%.
The Ugly Action in Crypto Markets Came As the Already-Batted US Equity Indexes Opened the Week Sharply Lower, Weighting on Sentiment. The Nasdaq Tumbled Over 3% in the Early Hours of the Session, While the S&P 500 Declined 2%.
Crypto equities also felt the heat. Strategy (Mstr), The Largest Corporate Btc Holder, and Crypto Exchange Coinbase (Coin) Lost More Than 10%.
With the Digital Asset Summit at the White House and President Donald Trump’s Bitcoin Reserve Executive Order Already Behind Us Down by Concerns About A Tariff War and A Slowing Economy.
The Economy Is In A “Transition” Phase, Trump Said in An Interview with Fox News on Sunday, Refusion to Rule Out A Recession this Year.
“Until Crypto Finds a New Narrative, We’re Likely to See An Increated Correlation Between Btc and Equities in the Near Term,” Hedge Fund QCP SAID 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 US Macro Data Release.”
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