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Ah, Monday mornings, the perfect time for a crypto rollercoaster. Bitcoin just belly-flopped below $80K, dragging the entire crypto market down with it. If you woke up and checked your portfolio, chances are your coffee tasted a little more bitter today.
The sell-off comes as inflation fears heat up and financial markets brace for impact. Over the weekend, President Trump did the classic “I’m not saying there’s a recession coming… but also, I’m not not saying it” routine. Speaking to Fox News, he dodged recession talk but mentioned that the U.S. economy is in for a “transition period” as his tariff policies shake up trade with Canada, Mexico, and China.
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Markets didn’t take the uncertainty well. By Monday morning, Bitcoin had face-planted to $79,553, though it managed a tiny bounce to $79,785. That’s a 5% drop in 24 hours and a 14% loss this week, all while traders keep one eye on tariffs and another on the rumour mill about Trump’s alleged strategic Bitcoin reserves. To summarise, the crypto market is not loving it.
🚀 Ethereum, Solana, and Dogecoin Join the Red Sea
Bitcoin wasn’t the only one feeling the pain. Ethereum flirted with the dreaded $2,000 level on Sunday before sliding to $2,013, down 5% on the day. It hasn’t seen sub-$2K levels since November 2023, back when AI stocks were mooning, and people still thought NFTs were dead (spoiler: they’re back).
Other major coins followed suit:
📉 Solana (SOL): Down 9%, trading at $121
📉 Cardano (ADA): Down 10%, sitting at $0.69
📉 Dogecoin (DOGE): Down 8%, woofing at $0.166
Even the stock market couldn’t dodge the wrecking ball. The Nasdaq tumbled 3%, and the S&P 500 dipped 1.8%, as traders braced for fresh inflation reports. The Producer Price Index (PPI) and Consumer Price Index (CPI) are set to drop this week, giving us a reality check on whether inflation is cooling or about to torch portfolios again.
💡 What’s Next for the Crypto Market?
Brace for impact. If inflation numbers come in hotter than expected, the Fed could tighten the screws, pushing risk assets, including crypto, further down. On the flip side, if inflation looks tame, we could see a bounce.
For now, traders are playing it safe, and market jitters are real. But hey, it’s crypto, volatility is part of the fun, right?
Will Bitcoin hold the line above $79K, or are we headed for deeper dips? Buckle up. This week’s gonna be a wild one for the crypto market.
