Bitcoin slips below $77K, Ether slides 6% as stock selloff weighs on crypto
Bitcoin's price dropped to $76,889, its lowest point since November while second-ranked token Ether dropped as much as 6% to $1,756, an intra-day low not seen since October 2023, according to data compiled by Bloomberg. Both tokens later erased those declines.
The losses come after a selloff in US equities led by technology stocks picked up steam. The tech-heavy Nasdaq 100 Index plunged 3.8% for its worst day since October 2022. Wall Street is jittery after Trump warned that Americans may feel a “little disturbance” stemming from trade wars with Canada, Mexico and China. Strategists and economists across Wall Street have been raising their odds for a US economic downturn.
Trump ordered the creation of a US Bitcoin reserve and a separate stockpile of other tokens ahead of a high-profile crypto summit with industry executives in Washington on March 7 — much-touted moves that ultimately did little to lift market sentiment.
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View Details»“Now that the industry has its strategic Bitcoin reserve executive order, crypto has one fewer positive forward
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