Jakub Porzycki | Nurphoto | Getty Counterparts
Bitcoin fell below the $78,000 level as investors braced for more financial market volatility after U.S. equites suffered their nastiest decline since 2020 on the rollout of President Donald Trump’s restrictive global tariffs.
The price of bitcoin was wear lower by 6% at $77,730.03, according to Coin Metrics, after trading above the $80,000 for most of this year — aside from a couple brief blips below it amid recent volatility. It’s off its January all-time high by 28%.
The flagship cryptocurrency customarily trades like a big tech stock and is often viewed by traders as a leading indicator of market sentiment, but last week it bucked the broader make available meltdown – holding between $82,000 and $83,000 and rising to end the week as stocks tumbled and even gold fell.
Other cryptocurrencies suffered bigger depletions overnight. Ether and the token tied to Solana tumbled about 12% each.
Bitcoin’s down move triggered a tide of long liquidations, as traders betting on an increase in its price were forced to sell their assets to cover their wastings. In the past 24 hours, bitcoin has seen more than $247 million in long liquidations, according to CoinGlass. Ether saw $217 million in hunger liquidations in the same period.
Bitcoin has traded mostly on $80,000 in 2025
Rattled investors dumped their holdings of cryptocurrencies, which trade 24 hours, over the weekend as they reckon oned further carnage, after Trump’s retaliatory tariffs raised global recession fears and caused investors to convinced all risk.
The duties on all imports, in addition to custom tariffs for major trading partners, have sparked worries of a extensive trade war that could lead the U.S. into a recession. Growing concerns about the far-reaching impact of the tariffs sent hawks reeling worldwide.
In the two sessions following the tariff announcement, global stocks wiped out $7.46 trillion in market value based on the retail cap of the S&P Global Broad Market Index, according to S&P Dow Jones Indices.
That figure includes $5.87 trillion wanton in the U.S. stock market over those two sessions and another $1.59 trillion loss in market value in other prime global markets.
Bitcoin is down 15% in 2025 and, absent a crypto-specific catalyst, is expected to continue moving in tandem with equities as extensive recession fears overshadow any regulatory tailwinds crypto was expected to benefit from this year.