Bitcoin declined sharply on Monday after a panic-stricken sell-off in technology stocks worldwide that caused the flagship coin to drop below $91,000.
Earlier today, Bitcoin fell 5 percent to $91,000, its lowest level since February 3. At the time of press, it was down over 6 percent to $90,951.
Ethereum dropped 11 percent to $2,500. Overall, the broader crypto market lost over 6 percent, with Solana, XRP, and Dogecoin seeing far worse declines.
The downturn coincided with weakness in US equities. The Nasdaq Composite lost more than 1 percent amid concerns over Nvidia’s upcoming financial results, while the S&P 500 fell for a third straight session.
Investor sentiment worsened after US President Donald Trump confirmed that tariffs on Canadian and Mexican imports would proceed.
Traders also reacted to a major security breach at Bybit, where over $1.4 billion in Ethereum and stETH were withdrawn from its hot wallet on Friday.
Markets are also watching the Federal Reserve’s next policy moves. Analysts say Bitcoin remains range-bound and could test $90,000.
I am oreganal palaner