Bitcoin Plunges Amid Global Market Turmoil
Bitcoin’s value has dropped by 12% in the last day, dipping below $75,000. This decline follows President Trump’s tariff proclamation, which has shaken global markets.
According to crypto.news, Bitcoin’s price fell to $74,604 in the past 24 hours. It’s now 30% below its all-time high of $108,786, reached just three months ago. At the moment, it’s slightly recovered to $73,793 but hasn’t reclaimed the $75,000 mark.The world’s largest cryptocurrency has lost nearly $67 billion, reducing its market cap to $1.48 trillion. The fall is part of a broader market downturn affecting Asia, Europe, and the U.S. The crypto’s market cap has fallen by 8%, reflecting the global economic uncertainty.
Customary markets are also struggling. Asian markets, especially, are experiencing their worst two-day drop in five years.
- Japan’s nikkei 225 fell 7.8%.
- China’s Shanghai Composite dropped 7.3%.
- South Korea’s KOSPI index closed 8.8% lower.
- hong Kong’s Hang Seng Index fell 13.74%.
Even safe-haven assets like gold and Bitcoin are not immune. Gold prices have fallen 4% to $3,030.
The crypto market, mirroring the negative sentiment, has lost over 12% in value, with a total market cap of $2.4 trillion.
These declines suggest that alternative assets may not be as safe as previously thought. The crypto market’s decline reflects the global economic uncertainty.
