Bitcoin's Recent Slump

Bitcoin experienced a significant drop, falling more than 5% and dipping below the $92,000 threshold, marking its lowest point since February 3. This downturn comes in the wake of a massive heist targeting the Bybit exchange, where $1.5 billion was stolen, shaking the cryptocurrency market.

Market Reactions and Recovery

Bybit has since announced that transactions have returned to normal and that recovery efforts are in progress. However, the incident has left investors on edge, particularly amidst growing economic uncertainties stemming from the United States' imposition of tariffs on China, potentially igniting a trade war between major global economies.

Impact on Wall Street

The ripple effects of these uncertainties were felt on Wall Street, which closed with sharp losses on Friday and continued its downward trend into Monday. This reflects the broader market's apprehension towards the current economic climate.

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