More than $1 trillion in market value was wiped from US stocks in a single session, and the sell-off quickly spilled into crypto. Watcher.Guru said on X that the scale of the decline in US equities reflected a sharp move away from risk assets, with market sentiment turning defensive.
Bitcoin slips under $69,000
As of early March 27, Taipei time, Bitcoin traded at about $68,484, down roughly 3.11% on the day. The move pushed BTC below the $69,000 mark and showed that the pressure was not limited to equities, with major crypto assets weakening at the same time.
Ether posts a steeper daily drop
Ether saw heavier losses, trading near $2,043 with a daily decline of 5.77%. According to the source material, ETH fell from an opening high of $2,168 to an intraday low of $2,037, a sharper retreat than Bitcoin during the same period.
Risk-off mood spreads across markets
The report linked the sell-off to macroeconomic uncertainty and a rapid cooling in investor risk appetite. After the sharp drop in US stock market value, the broader crypto market also turned volatile, with BTC and ETH falling in tandem as traders pulled back from higher-risk positions.