Bitcoin Plunges Amid Global Market Turmoil
Bitcoin’s value has dropped by 12% in the last 24 hours, dipping below $75,000. This decline follows president Trump’s tariff proclamation, which has shaken global markets.
according to crypto.news, Bitcoin’s price has fallen to $74,604. Its now 30% below its all-time high of $108,786, reached just three months ago.
Bitcoin’s market cap has also taken a hit, falling by nearly 8% and losing $67 billion. It now stands at $1.48 trillion. The decline in Bitcoin’s value mirrors the volatility in traditional markets. Asian and European markets have reported significant drops in major stocks.
For instance, Japan’s Nikkei 225 closed 7.8% lower, while China’s Shanghai Composite Index fell by 7.3%. south Korea’s stock market experienced its worst trading session as the 2008 financial crisis, wiht the KOSPI index down 8.8%. Hong Kong’s Hang Seng Index fell by 13.74%, and Taiwan’s Taiex closed 9.7% below the previous day. This downturn has affected alternative assets like gold, which has dropped 4% to $3,030.
The crypto market’s decline reflects the negative sentiment in traditional markets. The overall crypto market cap has fallen by 12% to $2.4 trillion. This shows that even safe assets like Bitcoin are not immune to market volatility.
Key points:
- Bitcoin’s price has fallen below $75,000.
- Global markets have dropped after Trump’s tariff announcement.
- The crypto market cap has fallen by 12%.
