Dogecoin and Cardano Plunge Over 10% as Bitcoin Slips Below $83,000
Crypto Market Sees Sharp Decline Amid Bitcoin Volatility and Economic Uncertainty
Bitcoin’s descent below $83,000 on Sunday sent shockwaves through the cryptocurrency market, triggering sharp declines across major altcoins, with Dogecoin and Cardano leading the slump.
Despite a minor rebound from its daily low, Dogecoin remained down nearly 12%, trading at $0.17 as of 4:24 p.m. ET, according to The Block Price Page. Cardano (ADA) also saw a slight recovery but was still down 10% on the day, changing hands at $0.74 during the same period.
The world’s largest cryptocurrency, Bitcoin, at one point dipped below the $83,000 threshold, marking a 4% decline for much of the day. This downturn persists despite U.S. President Donald Trump’s executive order last Thursday, which established a Strategic Crypto Reserve aimed at stockpiling Bitcoin. However, the digital asset’s price has been facing downward pressure in recent weeks, mirroring broader market trends.
Bitcoin’s price drop has coincided with increasing volatility in financial markets, exacerbated by a broader equities sell-off linked to Trump’s newly imposed tariffs. Meanwhile, gold—often viewed as a traditional safe-haven asset—has surged in value, reflecting growing investor concerns.
While Dogecoin has been on a declining trajectory for months, Cardano has exhibited relative stability compared to other major altcoins like Solana and XRP, both of which have seen significant losses over the past 30 days. Speculation surrounding the potential approval of exchange-traded funds (ETFs) tracking Cardano’s price may have provided some resilience against deeper losses.
As the crypto market navigates heightened volatility and macroeconomic shifts, investors remain on edge, closely monitoring Bitcoin’s next move and its ripple effects across the digital asset space.
