It’s another Sunday decline in the cryptocurrency market, with Bitcoin (BTC) poised to test its 2025 low of nearly $78,000.
As of just after 7:00 PM ET, Bitcoin had fallen to exactly $80,000, down 7% in the last 24 hours. The leading cryptocurrency did experience a slight rebound from that point, trading at $80,700 at the time of this report. Ether (ETH), Solana (SOL), and XRP saw similar declines, while Cardano (ADA) and Dogecoin (DOGE) dropped by nearly 12%.
“There might be some disruption,” U.S. President Donald Trump remarked during a Fox News segment on Sunday when questioned about his tariff and budget-cutting initiatives. “If you look at China, they take a 100-year view … we operate on a quarterly basis,” he added. “What we’re laying down is a foundation for the future.”
Trump’s remarks were referred to as “Volckering” by some on social media, drawing a parallel to former Federal Reserve Chair Paul Volcker. Shortly after his appointment by Jimmy Carter in 1979, Volcker aimed to combat a decade-long inflation crisis by sharply raising short-term interest rates, understanding that this action would likely trigger a severe recession in the U.S.
When Volcker completed his tightening measures roughly 18 months later, the Fed funds rate had reached 20%, and the economy indeed went through a challenging contraction. However, inflation was brought under control, paving the way for significant growth during the subsequent decade.
In early Sunday evening trading, U.S. stock index futures were down by about 0.85% across the board.
