Bitcoins Price Falls Bellow $85,000 After Trumps Tariff Announcement
Following the announcement by Donald Trump of reciprocal tariffs on all countries, Bitcoins price took a noticeable hit, plunging to around $84,400. This decline comes as market participants react to the potential economic consequences of the new trade measures.
At the time of writing, Bitcoin is trading at approximately $84,600, reflecting a 3% decrease within the past hour. The cryptocurrencys market capitalization now stands at $1.68 trillion, with a 24-hour trading volume of $41.88 billion.
The broader cryptocurrency market has also been significantly affected, with the total market capitalization falling by 1.25% to $2.71 trillion. This dramatic drop underscores the heightened volatility as global economic uncertainties influence digital asset prices.
Investors are closely monitoring the situation, assessing the potential long-term impact of the tariff announcement on both traditional and digital markets. The reaction highlights how Bitcoin, often seen as a hedge, remains vulnerable to major geopolitical and economic developments.
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Text source: Coindoo
