Bitcoin It fell to the $90,000 level to start the week, extending weekend losses as investors continued to unload technology stocks.
The price of the major cryptocurrency was last down 4% at $90,413.80, according to Coin Metrics, bringing its losses since Saturday to about 7%. Bitcoin lost 11% in the past week.
Bitcoin extends its decline as growth-oriented assets continue to take a beating
ether The broader cryptocurrency market lost 7% on Monday, as measured by an index CoinDesk 20 The index fell by more than 6%. In pre-market trading, shares Coinbase and Accurate strategy It decreased by 4% and 5%, respectively. Mara Holding Decreased by 5% and Basic scientific decreased by 3%
The crypto asset's decline began last week after stronger-than-expected payroll numbers triggered a collapse Bond yields rise And the middle Concerns about President-elect Donald Trump's tariff plans – Both gave a boost to the dollar while putting pressure on Bitcoin and other risky assets.
Investor sentiment has been optimistic heading into 2025, as markets look forward to a pro-crypto Congress and White House. This hope outweighed any concern about macroeconomic speed bumps, until last week.
Investors are now warning that the first quarter of this year could be more turbulent for cryptocurrencies than previously expected.
Bitcoin's price rose 120% in 2024 but is down 3% so far in the new year.
