Bitcoin falls below $80K amid Trump tariff jitters

Bitcoin fell sharply on April 7, lowering almost 7% to a three -week $ 77,077.

The decline occurred a few days after US President Donald Trump announcement New massive import prices, which have aroused concerns about a new trade war and a slowdown in the world economy. The cryptography market initially shown a certain resilience last week, the traders speculating that Bitcoin could act as a “safe refuge” when technological actions had dropped. But Sunday evening on April 6, this story had returned.

While the term contracts on American actions opened its first hours in Asia, the markets became red. The NASDAQ 100 contracts fell 5% and the S&P 500 and Dow Jones term contracts each dropped more than 4%. The Nikkei 225 of Japan sank 6%, ASX 200 Australia dropped by 5%and Kospi in South Korea dropped by 4.4%, according to Yahoo Finance data.

Bitcoin followed, crashing alongside the stock markets. According to Coinglass dataNearly $ 778 million in long cryptographic positions have been liquidated in the past 24 hours, marking the largest erasure in almost six weeks. Other main assets in crypto also suffered, with Solana (GROUND) Diving at $ 107 and Ethereun (Ethn) falling to $ 1,538, its lowest since October 2023.

Trump’s new policy requires a price of 10% by majority of imports, with even higher rates for specific nations, such as 34% on Chinese imports and 20% on EU goods. The financial markets were alarm By the aggressive decision and investors are preparing for prolonged economic instability.

While the markets took place, “Black Monday” began to tend to X, the users referring to the infamous Crash of 1987 when the industrial average of Dow Jones plunged 22.6% in a single day, the greatest drop for a percentage of a day in the history of the American stock market.

The billionaire of hedge funds Bill Ackman, in a post of April 7 on X, warned against an “economic nuclear winter” if Trump’s policies continue. “We will seriously damage our reputation with the rest of the world,” he published.

The feeling has also embittered in crypto circles. The Crypto Fear & Greed index slipped 11 points to 23, reflecting the “extreme fear”. However, not everyone is lower. The co-founder of Bitmex, Arthur Hayes, suggested in an April 4 job On X that turmoil could possibly conduct more Bitcoin investors such as coverage against centralized policies. Whether this escape arrives or not, Bitcoin resilience will be tested in the coming days.