Bitcoin (BTC) fell to $78,000 this Monday, losing 4% on the day, as the stock markets collapse.

The fall of Bitcoin is part of a broader context of retreat from riskier assets, where the crypto market has just lost hundreds of millions of dollars in just a few hours.

Bitcoin (BTC) price today slid below the $78,000 level on Monday, dropping by 4% as the stock markets continued to collapse. According to the latest cryptocurrency data, the BTC/USD pair was trading at $79,170 on Bitstamp by 07:07 British time, continuing a downward trend that began before the weekly close.

The cryptocurrency market has just seen hundreds of millions of dollars wiped out in a few short hours. Wall Street was opening lower, with the S&P 500 down 2% and the Nasdaq Composite Index falling 3.5%. The Nasdaq 100, in particular, has now officially entered correction territory after losing more than 10% from its recent peaks.

What’s next for Bitcoin?

The fall of Bitcoin is part of a broader context of retreat from riskier assets. Indeed, traders are pulling back from risky trades as several macroeconomic trends are fueling investor nervousness. For instance, the U.S. dollar index is rapidly approaching the 105 point threshold, a level that could trigger a new leg of the dollar rally.

This comes at a time when several indicators are putting an imminent recession in the U.S. into sharper focus.

A week full of uncertainties

Crypto investors are in a state of uncertainty as Bitcoin hovers below the $78,000 mark. The current volatility of the markets, coupled with the decline in stocks and worrying economic signals, fuels fears of a deeper collapse. This week is therefore expected to be decisive.

Because several indicators will need to be closely monitored, such as the movements of Bitcoin whales, market liquidity, or the Fed’s interest rate decisions. While some hope for a technical rebound, others fear a new wave of capitulations.

As markets wobble and Bitcoin suffers, the question remains open: Is this merely a correction, or can Bitcoin still avoid a total collapse?

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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.