Bitcoin Takes a Dive Below $92,000

In a startling turn of events, Bitcoin experienced a sharp decline, dropping more than 5% to fall below the $92,000 threshold. This marks the lowest point for the cryptocurrency since February 3, reigniting concerns among investors about the volatility of digital currencies.

Bybit Exchange Heist Shakes the Market

The cryptocurrency market faced further turmoil following a massive heist targeting the Bybit exchange, leading to a staggering $1.5 billion loss. Despite the setback, Bybit has announced that transactions have returned to normal and recovery efforts are in motion, aiming to restore confidence among its users.

Economic Uncertainty and Wall Street's Reaction

Adding to the market's unease, the imposition of tariffs by the United States on China has sparked fears of a looming trade war between the two economic powerhouses. This economic uncertainty has also left its mark on Wall Street, with trading closing sharply lower on Friday and continuing its downward trend into Monday.

As of 7:08 pm ET, Bitcoin was down by 0.07%, trading at $91,506.707, while Ethereum saw a 0.38% decline, selling for $2,494.2727 shortly thereafter.