Dragged down by sharp declines in software and private equity sectors, both the stock market and cryptocurrencies fell, and bitcoin's rebound momentum faded.

Jinse Finance reported that during the US trading session on Monday, Bitcoin fell back to $65,400 after failing to hold onto a slight overnight rebound. The US stock market experienced a significant decline, with the software sector—which has recently been highly correlated with the crypto market—falling another 5%, and private equity stocks also continuing to drop. LMAX strategists stated that as investors withdraw from high-risk assets, Bitcoin is behaving more like a "high-beta risk asset" rather than "digital gold."