Bitcoin Falls Below $80,000 Amid Global Market Turmoil Triggered by New Tariffs

There is a lot of chaos in the cryptocurrency market right now, with Bitcoin’s price dropping below $80,000 as trade tensions around the world rise. Bitcoin has dropped more than 25% since its all-time high of $109,241 in January. It is now selling at about $76,566, as of April 7, 2025.

This downturn is largely attributed to President Donald Trump‘s recent implementation of aggressive tariffs, including a 25% levy on imports from Canada and Mexico and a 10% tariff on Chinese goods. People are pulling their money out of risky investments like cryptocurrencies because they are scared of a global trade war now.

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The bigger stock markets have been just as volatile. Futures on U.S. stocks like the S&P 500, Dow Jones, and Nasdaq have all dropped by almost 4%. The European markets have also been hit. The DAX in Germany and the CAC 40 in France both fell more than 5%. Asian markets have also lost a lot of money. For example, Hong Kong’s Hang Seng Index has dropped 13.2%, which is the most since the Asian financial crisis.

Other big digital assets have lost a lot of value in the cryptocurrency industry. XRP, Dogecoin, Cardano, and Binance Coin have all dropped more than 10%. Ethereum has dropped by 9%. The crypto market has lost almost $2 billion because of this mass sell-off. Concerns have been raised by analysts that the current trade disagreements could cause a long-lasting global recession, which would have a negative effect on the bitcoin market even more.

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Still, some experts are optimistic about Bitcoin’s future. At Standard Chartered, Geoffrey Kendrick is the Global Head of Digital Assets Research. He still believes that Bitcoin could reach $200,000 by the end of 2025. He says that two main reasons for this are that the Federal Reserve might lower interest rates and more people are using Bitcoin.

Cryptocurrency owners should keep a close eye on these events because they are still having an impact on their assets. This is because world events and market factors are still having an impact.