After U.S. stocks saw their largest drop since 2020 due to President Donald Trump’s stringent international tariffs, investors braced for further financial market turmoil, and Bitcoin dropped below the $80,000 barrier.
As per Coin Metrics, the price of bitcoin dropped 4% on Monday to $76,221. It had dropped from Friday’s peak of almost $85,000. It’s over 30% lower than its January peak.
The two-day losses for Ether and the Solana-related coin increased to 15% and 13%, respectively.
After Trump’s retaliatory tariffs stoked fears of a worldwide recession and prompted investors to sell any risk, nervous investors liquidated their holdings of cryptocurrencies, which trade around the clock, over the weekend in anticipation of further carnage.
Source (CNBC)
