Cryptocurrencies sold sharply heading into the week in Asia, underscoring a clear risk-off sentiment across markets.
Bitcoin shed about 7 per cent of its value from Sunday night through to Monday morning in Singapore to reach a low point of US$77,077.
Second-ranked token ether plummeted to US$1,538, an intraday low not seen since October 2023. Both bitcoin and ether later pared losses.
The slide comes as US President Donald Trump dug in on sweeping tariffs that have already wiped trillions in value from US equities. US equity-index futures slumped and the yen surged in a sign of deepening turmoil throughout financial markets.
“For a moment, it seemed as though crypto might hold steady, but with the 24/7 nature of crypto markets, investors woke up on Sunday in full ‘sell mode’,” said Charlie Sherry, head of finance and cryptocurrency analyst at BTC Markets in a research note.
Coinglass data show about US$758 million worth of bullish cryptocurrency wagers were liquidated in the past 24 hours, the most in nearly six weeks.
