Tariffs: Bitcoin drops below $75,000

Forum 1 month ago

Tariffs: Bitcoin drops below $75,000

Bitcoin has fallen as much as 12% in the past day, falling below the $75,000 threshold.

The development comes amid the plunging of Asian and European markets in the aftermath of President Donald Trump’s tariff announcement.

According to data from crypto.news, Bitcoin has fallen as low as $74,604 in the past 24 hours.

The largest cryptocurrency by market cap has seen its price plummet around 30% below its all-time high price at $108,786, which occurred just three months prior.

At press time, Bitcoin has recovered only slightly to $73,793. However, it is yet to manage to return to levels above $75,000.

Its market cap has also suffered from the decrease in price, falling by nearly 8% and losing nearly $67 billion in the process. Bitcoin’s market cap currently stands at $1.48 trillion.

Waploaded reports that the sharp decline comes shortly after Asian, European and American markets reported alarming drops in major stocks in the aftermath of Trump’s tariffs.

Asian markets, in particular, are seeing the worst two-day stretch for Wall Street stocks in five years.

On April 7, Japan’s main index, Nikkei 225, closed 7.8% lower than the previous date, while the broader Topix exchange decreased by 7.7%. Meanwhile China’s Shanghai Composite Index closed more than 7.3% lower.