Market Shaken by Massive Heist and Economic Uncertainties

In a dramatic turn of events, 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 follows a significant security breach at the Bybit exchange, where a staggering $1.5 billion was stolen. Despite the setback, Bybit has announced that transactions have returned to normal and recovery efforts are in full swing.

Investor Anxiety Over US-China Trade Tensions

Adding to the market's volatility, investors are grappling with the economic uncertainty stemming from the United States imposing tariffs on China. The potential for a trade war between these global economic powerhouses has cast a shadow over the market, contributing to the sharp losses seen on Wall Street at the end of last week and continuing into the start of this week.

Bitcoin and Ethereum Prices at a Glance

As of 7:08 pm ET, Bitcoin saw a slight decrease of 0.07%, with its price settling at $91,506.707. Shortly after, Ethereum also experienced a decline, dropping 0.38% to $2,494.2727.