In the crypto currency markets, the week started weak, with Bitcoin (BTC) dropping below $80,000. Ethereum (ETH) briefly fell below $2,000, while Solana (SOL), Cardano (ADA), Aptos (APT), Avalanche (AVAX), and NEAR lost between 7% and 10% in the last 24 hours.

The selling wave in the market coincided with sharp losses in the U.S. stock markets. Nasdaq fell by over 3%, while the S&P 500 lost 2%. Shares related to crypto also felt the pressure of selling. One of the largest institutional BTC investors, Strategy (MSTR), and Coinbase (COIN) shares lost over 10%.

Bitcoin rose to $84,000 early in the day, but the influence of Strategy’s $21 billion fundraising plan was short-lived, and BTC dropped by 3.8% within 24 hours, falling below $80,000. Ethereum traded near its lowest levels since November 2023, dropping by approximately 4%. The CoinDesk 20 Index reflected the overall market trend with a 5% loss.

Tensions in U.S. stock markets led to a decrease in global risk appetite. While the digital asset summit at the White House and President Donald Trump’s Bitcoin reserve executive order failed to provide new direction to the market, investors seem to lack positive catalysts in the near term. Concerns about economic slowdown signals and trade wars are increasing market uncertainty. Trump, in an interview with Fox News, stated that the economy is in a “transition” phase and did not rule out the possibility of recession this year. These remarks undermined investor confidence and negatively affected risk sentiment in the markets.

Hedge fund QCP, pointing out the possibility of continued volatility in the crypto markets, stated in a Telegram broadcast for investors, “The correlation between BTC and stocks is likely to increase until a new narrative emerges in crypto. With tariff risks remaining uncertain, volatility may increase towards important macroeconomic data releases in the U.S.”