Bitcoin drops below $77,000, Ethereum hits 16-month low amid US recession fears
Bitcoin, Ethereum, Solana, XRP, Cardano, and Dogecoin, extended their losses on Tuesday as concerns over U.S. economic growth intensified. Investors worried that escalating trade tensions could slow down the U.S. economy and push it into recession.
Market sentiment weakened further after former U.S. President Donald Trump, in a Fox News interview, spoke about a «period of transition» but avoided predicting whether his tariff policies could lead to a recession. His comments added to investor uncertainty, triggering declines across cryptocurrencies, stocks, and the U.S. dollar, while Treasury yields also fell.
As of 10:46 AM IST, Bitcoin dropped 3.2% to $79,937 after touching a day's low of $76,624. Ethereum tumbled 7.5% to $1,911, while the global crypto market cap fell 4.3% to $2.6 trillion in the last 24 hours.
Among altcoins, Solana lost 4%, XRP declined 3.5%, Cardano fell 3.2%, and Dogecoin slumped 8.5%.
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View Details»«The crypto market is seeing its major downturn with Bitcoin falling under $80,000 and Ethereum recording a 16-month low
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