by Krisztian Sandor at CoinDesk
The price action came as the Nasdaq and S&P 500 stock indexes fell sharply early Monday as Trump failed to quell worries about a recession.
What to know:
- Crypto’s weak start of the week had BTC dropping below $80,000 and Ethereum’s ETH briefly sliding below $2,000. Solana’s SOL, Cardano’s ADA, Aptos’ APT, Avalanche’s AVAX and NEAR fell 7%-10% over the past 24 hours.
- The downturn in crypto markets coincided with a sharp decline in U.S. equity indices, with crypto equities such as Strategy (MSTR) and Coinbase (COIN) tanking 10%.
- The crypto market is currently lacking near-term positive catalysts and is being impacted by macroeconomic headwinds of a potential tariff war and a slowing economy.
Cryptocurrencies extended a sell-off on Monday as risk assets including equities tanked during the early U.S. hours.
Following a bounce to around $84,000 earlier in the day, perhaps buoyed by Strategy’s $21 billion fundraising plan, bitcoin (BTC) slid below $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%…