Market Shaken by Bybit Heist and Economic Uncertainty

Bitcoin experienced a sharp decline, dropping more than 5% to fall below the $92,000 threshold, marking its lowest point since February 3. This downturn comes in the wake of a significant security breach at the Bybit exchange, where $1.5 billion was stolen. Bybit has since announced that transactions have returned to normal and recovery efforts are ongoing.

Investor Concerns Over Trade War Implications

Amidst the cryptocurrency market's volatility, investors are also grappling with broader economic uncertainties. The imposition of tariffs by the United States on China has raised fears of a potential trade war, adding to the market's unease. This sentiment was mirrored in Wall Street's performance, which saw sharp losses at the end of the week and continued its downward trend into the new week.

Bitcoin and Ethereum Prices at a Glance

At 7:08 pm ET, Bitcoin was down 0.07%, trading at $91,506.707. Shortly after, Ethereum also saw a decline of 0.38%, with its price settling at $2.494,2727.