Bitcoin Slides as Selling Pressure Increases
Bitcoin (BTC) experienced another weekend decline, falling to $80,000 as selling pressure mounted. The cryptocurrency is inching closer to its 2025 low of $78,000, with market sentiment remaining bearish. By 7:00 pm ET, BTC had fallen 7% over the past 24 hours, though a minor rebound saw it reach $80,700.
Major Cryptos Decline in Sync with Bitcoin
Ethereum (ETH), Solana (SOL), and XRP (XRP) all suffered similar losses, while Cardano (ADA) and Dogecoin (DOGE) took steeper hits, losing nearly 12%. The persistent downtrend suggests that investors are pulling back from the crypto market amid broader financial concerns.
Economic Concerns Continue to Dominate
The downturn coincided with Donald Trump’s interview on Fox News, where he acknowledged the potential short-term economic impact of his policies. His statements were likened to Paul Volcker’s aggressive rate hikes in the late 1970s, which caused a recession but eventually led to economic stabilization. Traditional markets also showed weakness, with U.S. stock index futures slipping 0.85%.
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