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  • lombard-staked-btcLombard Staked BTC (LBTC) $ 108,358.00
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  • binance-staked-solBinance Staked SOL (BNSOL) $ 161.47
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  • solv-protocol-solvbtc-bbnSolv Protocol Staked BTC (XSOLVBTC) $ 108,246.00
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Recession Fears Spark Market Sell-Off; Bitcoin Plunges Anew

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Recession Fears Spark Market Sell-Off; Bitcoin Plunges Anew

Worries about a recession sent markets tumbling, hitting both stocks and crypto. On Black Monday, U.S. stock indices took a dive: the Dow shed 2%, the S&P 500 dropped 2.7%, and the Nasdaq nosedived 4%.

Major firms like Tesla, Apple, and Nvidia all took a beating, with Tesla falling sharply by 15.4%. At the same time, Bitcoin slipped below $80,000, its second dip in three weeks, rattling investor nerves.

Hayes’ Bitcoin Prediction Looks More Likely

Arthur Hayes, co-founder of BitMEX, has been flagging potential market corrections, especially for Bitcoin, for some time.

Hayes previously suggested Bitcoin might drop to $75,000, a forecast that now looks increasingly possible. Recent reports show Bitcoin actually hit a low of $81,380, getting closer to Hayes’s predicted price level.

In his latest comments, Hayes reiterated his belief that Bitcoin could fall even further if it hits the $75,000 mark. He also pointed to open interest around that price level as a warning sign, suggesting growing bearish sentiment in the market.

Related: Bitcoin Price Crash? Arthur Hayes Predicts March Meltdown

Economic Jitters, Political Climate Fuel Market Slide

The market downturn is worsened by concerns about the U.S. economy. Treasury Secretary Scott Bessent recently cautioned about a potential “detox period” as the new administration works to cut government spending.

Adding to the unease, U.S. President Trump stated the economy is going through a “transition period,” further fueling investor uncertainty.

https://twitter.com/atrupar/status/1898018956499206537

Adding to the gloom, Goldman Sachs lowered its U.S. growth forecast, citing risks from new tariffs. New York Federal Reserve data shows inflation expectations at 3.13%, increasing worries about the U.S. economic outlook.

Bitcoin Failing to Break Free from Traditional Markets

Bitcoin’s continued decline highlights its struggle to decouple from traditional asset markets. Mintology CEO Zach Burks pointed out that Bitcoin, once considered a safe haven, is now viewed as a high-risk asset.

Despite the downturn, technical indicators hint Bitcoin may be nearing a short-term rebound. The RSI, currently at 37.60, is approaching the oversold zone of 30, which often signals a possible price reversal.

Recession Fears Spark Market Sell-Off; Bitcoin Plunges Anew

Source: TradingView

Related: US Stock Market on Edge of a Bull Run, Says Crypto Firm

Moreover, the MACD remains negative, confirming bearish momentum. Still, if buying pressure picks up, these indicators could signal a trend change, possibly leading to a recovery.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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