Bitcoin price fell below US $ 40,000 on Saturday (5/3), following the collapse of the world's major stock exchanges.
Referring to CoinMarketCap data on Saturday (5/3), Bitcoin price touched US$ 38,805.85, before rising to US$ 39,094.39 at 7:28 WIB.
Even so, the price plunged 7.35% in the last 24 hours. This decline continued the trend since last Thursday (3/3).
Wall Street ended in the red on Friday (4/3) as Russia's invasion of Ukraine overshadowed the acceleration of job growth in the United States (US) last month.
The Dow Jones Industrial Average fell 0.53% to 33,614.8, the S&P 500 fell 0.79% to 4,328.87, and the Nasdaq Composite fell 1.66% to 13,313.44.
So far this week, the S&P 500 and Dow Jones indexes fell 1.3%, while the Nasdaq fell 2.8%.
On Friday (4/3), the S&P 500 banks index slumped 3.35%, bringing the week's loss to nearly 9%, its worst weekly decline since June 2020.
Equities globally weakened, with safe-haven assets in demand, after Russian troops seized Ukraine's largest European nuclear power plant.
The US Department of Labor employment report showed jobs grew by more than expected by 678,000 last month and the unemployment rate fell to 3.8%, its lowest since February 2020.
"Three or four weeks ago, we would have thought this was a very important number. But, given the background and overall events taking place in Europe, it's not," said Zachary Hill, Head of Portfolio Management at Horizon Investments.
"The potential escalation in the heat war, the potential impact on growth in Europe and more broadly, and the unforeseen effects on commodity channels and inflation take up all of investors' time and energy," he told Reuters.
Tech shares Amazon.com Inc, Apple Inc, owner of Google-Alphabet Inc, and Microsoft Corp, all lost more than 1%.
Bitcoin prices and crypto markets were also pressured by Federal Reserve (The Fed) Governor Jerome Powell's statement this week.
He said he would support a 25 basis point rate hike at the central bank's March 15-16 policy meeting and would be "prepared to move more aggressively" if inflation did not subside as quickly as expected.