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Bitcoin, Ethereum, and Solana Drop as Weekend Crypto Selloff Deepens

Bitcoin, Ethereum, and Solana Drop as Weekend Crypto Selloff Deepens

Bitcoin fell to around $65,400 during U.S. trading as equities and tech stocks slid, with analysts at LMAX Group saying crypto is behaving more like a high-beta risk asset than digital gold.

BTC
ETH
SOL

Fact Check
Multiple high-authority and high-relevance market reports confirm that Bitcoin, Ethereum, and Solana all experienced price declines during a weekend selloff. CoinDesk provided several consistent updates documenting Bitcoin's drop from around $67,000 to as low as $64,400, then a partial rebound, clearly identifying this as a weekend cryptocurrency selloff. These same reports mention Ethereum and other major coins declining alongside Bitcoin, consistent with broad market weakness. Data and analysis from Investing.com further corroborate these trends, showing downward price movements for Bitcoin and Ethereum, and noting Solana’s continued underperformance during the same period. No credible sources contradict this narrative, and all relevant reports describe correlated weekend declines across major cryptocurrencies. Given the high consistency among reliable sources, the evidence strongly supports that Bitcoin, Ethereum, and Solana declined over the referenced weekend selloff.
Summary

Bitcoin slipped to about $65,400 during U.S. trading on Monday after failing to sustain a modest rebound, marking a sharp 24-hour decline of roughly 35%. The drop coincided with broad weakness in U.S. equities, including more than 1% losses in the S&P 500 and Nasdaq 100 and a 5% fall in the iShares Expanded Tech-Software ETF (IGV), now down nearly 35% since October. Private equity firms such as BlackStone, Ares Management and Apollo Global Management fell between 6% and 8%, while Blue Owl Capital declined 3.5% and is down 32% year-to-date. According to Joel Kruger, market strategist at LMAX Group, the environment has turned decisively risk-off, with bitcoin trading more like a high-beta proxy for tech stocks than a safe-haven asset. Bitcoin continues to move within a $60,000 to $70,000 range as investor risk appetite remains fragile. Separately, Laurore Ltd. disclosed a roughly $436 million stake in BlackRock’s iShares Bitcoin Trust (IBIT), with filings linking the position to Zhang Hui, though the ultimate beneficial owner chose to remain undisclosed.

Terms & Concepts
  • High-beta risk play: An asset that tends to amplify broader market movements, rising more in bull markets and falling more sharply during risk-off periods.
  • iShares Expanded Tech-Software ETF (IGV): An exchange-traded fund tracking U.S. technology and software companies, often used as a benchmark for the software sector.
  • iShares Bitcoin Trust (IBIT): BlackRock’s spot Bitcoin exchange-traded fund that provides investors with indirect exposure to Bitcoin through regulated markets.