“Decoupling” and “safe haven” began to be used late last week as bitcoin (BTC) held its own despite the continuing tumble in stock markets in response to President Trump’s sweeping tariffs against U.S. trading partners.
Bitcoin bulls, though, may have spoken too soon.
With stock trading closed for the weekend, fearful investors are perhaps turning to the 24/7 crypto markets to place bearish bets. In late Sunday afternoon action, bitcoin is trading just above $79,000 down 5% from 24 hours ago.
Other majors are faring far worse, among them ether (ETH), lower by 11% to $1,590 and solana (SOL), down 10% to $107.
The term “black monday” is trending on X — a reference to Monday October 19, 1987, when the Dow Jones Industrial Average lost nearly one quarter of its value in one session. Back then, the triggering event was the threat of a currency war by then Secretary of Treasury James Baker.
Stock index futures open for trading at 10 pm UTC.