On another Sunday, the cryptocurrency market is experiencing a selloff. Bitcoin (BTC) is struggling and is close to its 2025 low of around $78,000.
Bitcoin dropped to $80,000, a 7% decrease in the last 24 hours. It slightly recovered to $80,700 later. Other cryptocurrencies like Ether (ETH), Solana (SOL), and XRP also saw similar declines, while Cardano (ADA) and Dogecoin (DOGE) fell by nearly 12%.
In a Fox News interview, U.S. President Donald Trump discussed the potential impact of his tariff and budget-cutting policies. He mentioned that while there might be some disruption, the U.S. is focused on building a strong foundation for the future. Trump compared the U.S. approach to China’s long-term perspective, emphasizing that the U.S. tends to think in shorter terms, like quarters.
His comments drew comparisons to former Federal Reserve Chairman Paul Volcker, who took drastic measures in the late 1970s to combat inflation. Volcker raised short-term interest rates to very high levels, which led to a severe recession but ultimately helped control inflation.
After about 18 months of tightening, the Fed funds rate reached 20%, and the economy eventually recovered, leading to growth in the following decade.
