Market Shaken by Bybit Heist and Trade War Fears

Bitcoin experienced a significant drop, falling more than 5% to below $92,000, 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, causing widespread concern across the cryptocurrency market. Bybit has since announced that transactions have returned to normal and recovery efforts are in progress.

Economic Uncertainty Weighs on Investors

Investors are also grappling with economic uncertainty, fueled by the United States' imposition of tariffs on China, which could potentially ignite a trade war between the world's largest economies. This uncertainty has spilled over into Wall Street, which closed with sharp losses on Friday and continued its decline into Monday.

At 7:08 pm ET, Bitcoin was down 0.07%, trading at $91,506.707, while Ethereum fell 0.38% to $2,494.2727 shortly after.