Bitcoin briefly fell under $50,000 for the first time in six months on Monday but recovered some losses. Ether also rose over 2% to more than $2,400, Stocks tied to bitcoin, including Coinbase, MicroStrategy, Marathon Digital, and Riot Platforms, gained about 2% each in premarket trading. The sell-off was driven by carry traders unwinding positions, recession fears, Middle East tensions, and U.S. election uncertainty. Bitcoin and ether are down for August but up for the year.