Bitcoin Faces Another Steep Drop
Bitcoin (BTC) fell to $80,000 on Sunday, continuing its pattern of weekend selloffs. The leading cryptocurrency has been struggling to find support, and this latest dip puts it near its 2025 low of $78,000. As of 7:00 pm ET, Bitcoin had declined 7% in 24 hours, with only a minor rebound to $80,700.
Altcoins Hit Harder Than Bitcoin
Ethereum (ETH), Solana (SOL), and XRP (XRP) saw similar losses, while Cardano (ADA) and Dogecoin (DOGE) suffered even greater declines of nearly 12%. The broader crypto market appears to be losing momentum, with investors increasingly cautious about economic conditions.
Macroeconomic Factors Weigh on Markets
Market sentiment was further impacted by former U.S. President Donald Trump’s comments on economic policy. He acknowledged that his trade and budget measures might cause “a little disruption” in the short term but insisted they were necessary for long-term growth. Some compared his strategy to that of Paul Volcker, who aggressively raised interest rates to fight inflation, leading to a brief recession before economic recovery. Meanwhile, U.S. stock index futures were also in the red, down 0.85% in early trading.
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