Bitcoin’s Price Falls Bellow $85,000 After Trump’s Tariff Announcement
On Wednesday Bitoin experienced increased volatility surging above $87,000 before crashing down to around $84,000
Following the announcement by Donald Trump of reciprocal tariffs on all countries, Bitcoin’s 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 cryptocurrency’s 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.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
