Bitcoin Falls Under $94K as Equities Attempt to Rebound from Recent Sell-Off

Bitcoin Dips Below $94K as Crypto and Stocks Struggle to Find Support

Bitcoin (BTC) extended its downward slide on Monday, weighed down by macroeconomic uncertainty and a widespread sell-off across the cryptocurrency market. Weakness in U.S. equities added to the pressure, preventing any meaningful recovery.

The leading cryptocurrency fell to around $93,900 as traditional markets closed, marking a 1.9% decline over the past 24 hours. Meanwhile, ether (ETH) dropped 5.9%, and the broader CoinDesk 20 Index slumped 5.1%.

Despite an attempted rebound, U.S. stock indices failed to gain traction. The Nasdaq finished the session down 1.2%, while the S&P 500 slipped 0.5%, extending last week’s downturn.

Solana (SOL) was the worst-performing major crypto asset, plunging nearly 10% over the past day and sinking 41% over the last month. The drop comes amid concerns over upcoming token unlocks, increased network inflation due to SIMD-96 updates, and a fading memecoin craze that previously fueled demand. Trading at $151, SOL has now erased all of its post-election gains.

“Investors should be cautious—$95,000 might seem like a high price now, but it could still be an attractive exit compared to where Bitcoin might trade in the next 6-12 months,” said Quinn Thompson, founder of Lekker Capital, a macro-focused crypto hedge fund. Thompson estimated an 80% chance that Bitcoin won’t set new all-time highs in the next three months and a 51% chance of stagnation lasting up to a year.

Meanwhile, concerns about the broader U.S. economy continue to grow. Neil Dutta, head of economic research at Renaissance Macro Research, pointed to warning signs in the labor market, slowing real income growth, a deteriorating housing sector, and reduced spending by state and local governments.

While market forecasts still anticipate GDP growth of around 2.5%, Dutta cautioned that 2025 may bring more downside risks.

“If 2023 was full of positive surprises, 2025 could be the opposite,” he warned. “A tightening of financial conditions could lead to falling stock prices, declining risk appetite, and weaker job market conditions.”