Opinion: US stock crash caused BTC to fall below the key support level of $80,000, DOGE may be one of the reasons for the economic recession

As the stock market took a hit due to a new round of selling on Wall Street, Bitcoin fell below the key support level of $80,000 and approached the low of $78,000, investors began to shift risk assets across the board to safe assets, analysts Kobeissi said that the US Department of Government Efficiency (DOGE) cut government spending is one of the reasons for the recession, they believe that US government spending and job growth have been'driving 'the economy, but DOGE's cost cuts will have a profound impact, it is not clear where the BTC price movement may form a more reliable bottom.