The Sunday gathering was short-lived as President Donald Trump's pricing confirmation took down the top cryptocurrencies on Monday.

Bitcoin was dropped to a lowest intraday level of $85,081, a day after the announcement of a U.S. strategic cryptocurrency reserve had pushed it above $95,000.

Ethereum fell more than 13% to a lowest intraday level of $2,097.08, erasing Sunday’s gains, while Dogecoin also reversed, plunging more than 15%.

The pullback liquidated $804 million from the cryptocurrency market over the last 24 hours, with $86 million in long positions wiped out.

However, over $1 billion in short positions were at risk of liquidation if Bitcoin rebounded to around $92,300.

Bitcoin's open interest dropped by 9.88% over the last 24 hours. Interestingly, Binance futures traders were buying the dip, with long positions accounting for 69% of total bets.

The Crypto Fear and Greed Index fell back into the “Extreme Fear” territory, fueling concerns of further sell-offs.

The global cryptocurrency market capitalization fell by 9.27% to $2.84 trillion over the last 24 hours.

Stocks fell on Monday. The Dow Jones Industrial Average dropped by 649.67 points, or 1.48%, to close at 43,191.24. The S&P 500 sank 1.76% to finish at 5,849.72, while the tech-focused Nasdaq Composite lost 2.64% to close the session at 18,350.19.

The sell-off was triggered after Trump reiterated the imposition of tariffs on major trading partners, Canada, Mexico, and China.

Investors will focus on February employment data, which is set to be released on Friday, to gauge the strength of the U.S. economy.