#marketcorrection

The total cryptocurrency market capitalization fell to $3.06 trillion this weekend as Bitcoin slipped below the $79,000 level for the first time in 2026. This correction was triggered by the nomination of a hawkish new Federal Reserve Chair, which fueled a sharp rally in the US Dollar and Treasury yields.

Rising geopolitical tensions in the Middle East, specifically reports of an explosion at Iran’s Bandar Abbas port, have further intensified the global shift toward risk-off positioning. In India, the stock market is seeing extreme intraday volatility during today’s special Sunday session as traders react to the Union Budget 2026 announcements.

Liquidity remains thin across major pairs as institutional participants wait for the Monday market open to gauge the full impact of the US government shutdown.

The current mood is defined by a rapid deleveraging phase as the market adjusts to higher interest rate expectations and increased fiscal uncertainty. The focus has shifted from growth speculation to capital preservation as major assets test multi-month support zones.