Crypto Markets Decline as Bitcoin Drops to $86,700

Crypto markets saw a rapid decline after an initial spike following President Trump's announcement regarding a U.S. crypto reserve.

• Bitcoin is currently priced at $86,700, just above pre-announcement levels.
• Ether has dropped below its level before the announcement, with the ETH/BTC ratio reaching a five-year low.
• Other cryptocurrencies mentioned by Trump, including Solana, Ripple, and Cardano, have lost significant gains but remain above their prior values.
• Crypto volatility remains high, with a Put Skew indicated until the end of March, according to QCP Capital.
• Many crypto stocks, such as Core Scientific and Bitdeer, are experiencing substantial losses today.
• Slightly known Semler Scientific has declined 7.3% amid a DOJ investigation related to possible fraud violations.
• The broader stock market is also down, with the Nasdaq dropping 1.1% and the S&P 500 falling 0.8% due to concerns over impending tariffs on Mexico, Canada, and China.

Market sentiment is influenced by worries over U.S. economic growth and tariff impacts, affecting both equities and cryptocurrency valuations.