Bitcoin Dips Sharply as Investors Exit Positions
Bitcoin (BTC) suffered another weekend selloff, dropping to $80,000 on Sunday as investors continued to retreat from the market. The cryptocurrency is nearing its 2025 low of $78,000, raising concerns of further declines. At 7:00 pm ET, BTC had lost 7% in 24 hours, showing only a modest recovery to $80,700.
Broader Crypto Market Follows Bitcoin’s Decline
Ethereum (ETH), Solana (SOL), and XRP (XRP) were not spared from the downturn, all experiencing similar declines. Meanwhile, Cardano (ADA) and Dogecoin (DOGE) faced even heavier losses, dropping nearly 12%. Analysts suggest that uncertainty in traditional financial markets is prompting investors to pull back from riskier assets.
Trump’s Economic Policies Draw Comparisons to Volcker
Donald Trump’s latest comments on his economic policies added to market concerns. During a Fox News interview, the former president admitted that his budget and tariff measures could create temporary economic disruptions. Many observers likened his stance to that of Paul Volcker, who raised interest rates aggressively to curb inflation, causing a recession before stabilizing the economy. Traditional markets also reflected the caution, with U.S. stock index futures down 0.85% in early evening trading.
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