Bitcoin’s safe-haven narrative is being put to the test as heightened macroeconomic anxiety spills into the crypto market. The leading cryptocurrency dipped below $79,000 late Sunday, marking a 5% drop over the past 24 hours as U.S. stock index futures signaled another wave of selling pressure.
As futures for the Nasdaq 100 and S&P 500 opened sharply lower—down 5% and 4.5%, respectively—bitcoin briefly touched $78,400. Broader crypto markets mirrored the weakness: Ethereum (ETH) tumbled 11% to $1,590, and Solana (SOL) fell 10% to $107.
The selloff follows a turbulent week sparked by President Donald Trump’s sweeping announcement of reciprocal tariffs targeting nearly every major trading partner. The move ignited fears of a full-blown trade war, triggering a $5.4 trillion drop in U.S. equity markets over two days.
In a widely circulated post on X, Pershing Square’s Bill Ackman described the tariff escalation as “economic nuclear war,” warning that continued aggression could plunge the U.S. into a self-inflicted recession. “We risk grinding business investment to a halt and closing consumer wallets,” Ackman said, urging the administration to pause and reassess on Monday.
The flight to safety has begun. U.S. 10-year Treasury yields fell 14 basis points to 3.85%, reflecting strong demand for safer government bonds. Traditionally seen as a risk asset, bitcoin’s recent price action suggests it is not immune to systemic fear—despite last week’s optimism about its potential decoupling from equities.
Analysts now watch closely to see whether Monday’s full market reopening confirms the weekend’s bearish signals—or if policymakers take steps to calm the storm.
