- Bitcoin plummeted to $80,000 on Sunday, down 7% in 24 hours and approaching its 2025 low of $78,000.
- Other major cryptocurrencies including Ethereum, Solana, and XRP experienced similar declines, while Cardano and Dogecoin fell nearly 12%.
- Trump’s comments about potential “disruption” from his economic policies were likened to Paul Volcker’s aggressive inflation-fighting approach in the early 1980s.
Cryptocurrency markets tumbled again on Sunday as Bitcoin (BTC) slid toward its 2025 low, dropping to exactly $80,000 before slightly recovering. By 7:00 pm ET, the leading digital asset was trading at $80,700, representing a 7% decline over the previous 24 hours and threatening to retest its yearly bottom near $78,000.
The selloff extended across the broader crypto market, with Ethereum (ETH), Solana (SOL), and XRP all experiencing comparable losses around 7%. Meanwhile, Cardano (ADA) and Dogecoin (DOGE) suffered even steeper declines, plunging approximately 12% during the weekend downturn.
Market sentiment appeared to react to comments from U.S. President Donald Trump during a Fox News appearance on Sunday. When questioned about potential economic impacts of his proposed tariffs and budget-cutting initiatives, Trump acknowledged: “There could be a little disruption.” He contrasted U.S. and Chinese economic planning approaches, noting: “If you look at China, they have a 100-year perspective… we go by quarters. What we’re doing is building a foundation for the future.”
These remarks sparked comparisons on social media to former Federal Reserve Chairman Paul Volcker’s aggressive monetary policy approach, with some commentators dubbing Trump’s economic stance as “Volckering.” This reference recalls Volcker’s dramatic actions after his 1979 appointment by President Jimmy Carter, when he deliberately engineered a recession by raising interest rates to unprecedented levels to combat entrenched inflation.
By early 1981, Volcker had pushed the Federal funds rate to 20%, triggering a painful economic contraction. While the recession proved difficult, it successfully broke the inflationary cycle that had persisted throughout the 1970s and created conditions for substantial economic growth that characterized most of the 1980s.
The cryptocurrency market decline coincided with weakness in traditional financial markets, as U.S. stock index futures traded down approximately 0.85% across major indices during early Sunday evening activity.
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