Odaily News As the stock market suffered a blow 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 turn risky assets to safe assets. Analysis agency Kobeissi said that the US Government Efficiency Department (DOGE) cut government spending is one of the reasons for the recession. They believe that US government spending and job growth have been "driving" economic development, but DOGE's cost cuts will have far-reaching effects. It is not clear where BTC price trends may form a more reliable bottom. (Cointelegraph)