Cryptocurrencies faced an intensifying sell-off on Monday, with Bitcoin dropping below $80,000 after briefly rallying earlier in the day. The downturn affected major assets, including Ethereum, which fell near its lowest price since November 2023. Concurrently, U.S. equity markets opened significantly lower, contributing to negative sentiment in the crypto space as concerns over economic conditions and potential tariff wars loom. Analysts suggest that without a new positive narrative, Bitcoin could continue to correlate closely with traditional equities, leading to increased volatility ahead of important U.S. economic data releases.
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