Bitcoin is accelerating its slide, falling towards $90,000 to start the week

Bitcoin It briefly fell below $90,000 on Monday as investors continued to dump growth-oriented assets like cryptocurrencies and tech stocks.

According to Coin Metrics, the price of the leading cryptocurrency was last down 3% to $91,827.32 to start the week. It was previously down to $89,259.00. Bitcoin is down 9% in the last week.

Ether It lost 7% on Monday and the broader cryptocurrency market, as measured by CoinDesk 20 index decreased by more than 5%. stocks Coinbase and MicroStrategy decreased by 4% and 3% respectively. Mara Holdings 4% decreased and Basic Science 2% withdrawn.

Crypto assets fall on stronger-than-expected payrolls numbers last week a jump in bond yields and between concerns about President-elect Donald Trump’s tariff plansboth boosted the dollar while putting pressure on bitcoin and other risk assets.

“The need for liquidity is driven by strong year-end US economy numbers, a strong stock market rally and currency jumps as there are other places where money is needed in the short term,” said co-founder James Davies. and CEO at cryptocurrency trading platform Crypto Valley Exchange. “If we want bitcoin to function as a currency, we have to accept that, and this is one of those times. The US dollar is stronger and everything measured in dollars, including bitcoin, is weaker.”

Investor sentiment was optimistic heading into 2025, with markets looking forward to the crypto Congress and the White House. That hope outweighed any concerns about macroeconomic-related speed bumps until last week.

Investors are now warning that the first quarter of this year could be more intense for cryptocurrencies than previously expected.

Bitcoin’s price is up 120% in 2024, but is down 3% so far in the new year.