Bitcoin Bucks Market Sell Off... and Then It Doesn’t

Bitcoin bucked the massive market selloff last week, showing that it may actually provide diversity compared with other markets… but then the weekend came.

On Friday, Bitcoin was still at $83,000 while even gold joined stocks in moving sharply lower.

What a weekend, however. The price of Bitcoin dropped below 79,000 on Sunday and other cryptocurrencies such as Ether dropped more than 10% within 24 hours.

President Trump’s tariffs have forced a decline in markets greater than any other time since the pandemic sell-off in 2020. Bitcoin has historically moved along similar lines as technology stocks, but has had one of the strongest returns of any investment sector in the last several years.

Traders were forced to liquidate after betting on increases. Ether dropped even more than Bitcoin in terms of liquidation, with a decline of close to $200 million.

The sell-off of cryptocurrencies was no worse than the rest of the markets, but it did not prove to be a safe haven for even 48 hours.