In recent market developments, Bitcoin experienced a notable price drop to $75,000, coinciding with a sell-off in the Nasdaq market. The cryptocurrency’s value decreased approximately 5%, down from about $78,937.14 during the early U.S. afternoon hours. Ethereum also faced a substantial decline, dropping 6.5% to near $2,200 from about $2,325.24. Similarly, Solana’s price fell, slipping below $100 from approximately $104.79. These changes reflect broader market dynamics affecting major cryptocurrencies.
The Nasdaq sell-off has significantly impacted technology and software-related stocks and exchange-traded funds (ETFs). Key technology companies such as Shopify, Adobe, Salesforce, and Intuit experienced declines of between 7% and 12% during the trading session. Furthermore, the iShares Expanded Tech-Software ETF (IGV) saw a notable decrease of 5% within the day. Over the past week, this ETF has suffered a 14% loss, marking a steep decline of nearly 28% since peaking in October. These figures underscore the challenges faced by tech stocks amid current market conditions.
Private-equity stocks such as Blackstone (BX), Ares Capital (ARES), KKR (KKR) and Apollo (APO) declined in the range of 6% to 10% during the sell-off. BlackRock TCP Capital (TCPC) intended to mark down the net value of its assets by 19%, reflecting an announced reduction to the fund’s reported asset value. Among crypto-related equities, Galaxy (GLXY) fell 18% in the session. Strategy (MSTR), Coinbase (COIN), Circle (CRCL) and Bullish (BLSH) each declined between 5% and 7% during the same trading period.
Overall, the sell-off included pronounced losses across private-equity and crypto-focused stocks. The session featured both planned markdowns to reported asset values and double-digit declines among individual names.
The broader cryptocurrency market has been described in reporting as being in a full-scale winter since January 2025. The coverage states that the current bear market typically lasts about 13 months. Separate reporting noted that Bitcoin had risen to about $91,000 earlier in the day.
In a Monday note, Matt Hougan wrote, “This is not a ‘bull market correction’ or ‘a dip.’ It is a full-bore, 2022-like, Leonardo-DiCaprio-in-The-Revenant-style crypto winter.” He added, “As a veteran of multiple crypto winters, I can tell you that the end of those crypto winters feel a lot like now: despair, desperation, and malaise.”
Those statements appear as part of expert commentary included in the reporting on recent market activity. The remarks provide a characterization of current market sentiment conveyed by the expert.
The trading session produced significant losses across major asset classes, with cryptocurrencies, technology stocks, private-equity shares and crypto-related firms all falling amid the Nasdaq sell-off. Technology and software names, private-equity issuers and crypto-focused companies registered pronounced declines during the session. These moves occurred against prevailing bearish market conditions across sectors.
