Bitcoin fell more than 3% on Tuesday morning in Asia while Ethereum dropped as much as 6% to $1,756, an intra-day low not seen since October 2023.
Cryptocurrencies slid further as fears over a selloff in US equities eclipsed President Donald Trump’s recent efforts to buttress the industry.
The losses come after a selloff in US equities led by technology stocks picked up steam, causing Wall Street to become jittery about a possible economic downturn.
Trump's orders to create a US Bitcoin reserve and a stockpile of other tokens did little to improve market sentiment, leaving the crypto market at the mercy of macro risk appetites.