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Bitcoin's Value Drops Amid US Tariff Doubts
(MENAFN) On Monday, Bitcoin, the world's largest cryptocurrency, saw its value dip below USD75,000, influenced by the ongoing unpredictability surrounding United States Leader Donald Trump's tariff policy.
According to data from Coinmarketcap, the overall value of the global cryptocurrency market, including Bitcoin, plummeted by approximately 10.58 percent in just 24 hours, reaching USD2.39 trillion.
Bitcoin's price dropped more than 10 percent in the past day, falling beneath USD75,000 due to worries over the potential effects of the United States' aggressive tariff strategy.
As of 0700GMT, Bitcoin was priced at USD74,980, which marked an 8.36 percent increase over the past week.
The announcement of the US tariff package has sparked fears that a full-scale trade conflict could unfold, potentially causing a global economic slowdown.
Numerous international trading partners, such as China and the European Union, have already responded with retaliatory measures.
Before Leader Trump revealed on April 2 that the US would impose tariffs on 185 nations, Bitcoin's price was still hovering around USD87,000.
Trump's earlier campaign promises included turning the US into the "crypto center of the world" by backing digital assets, alongside plans for a “national bitcoin reserve plan.”
According to data from Coinmarketcap, the overall value of the global cryptocurrency market, including Bitcoin, plummeted by approximately 10.58 percent in just 24 hours, reaching USD2.39 trillion.
Bitcoin's price dropped more than 10 percent in the past day, falling beneath USD75,000 due to worries over the potential effects of the United States' aggressive tariff strategy.
As of 0700GMT, Bitcoin was priced at USD74,980, which marked an 8.36 percent increase over the past week.
The announcement of the US tariff package has sparked fears that a full-scale trade conflict could unfold, potentially causing a global economic slowdown.
Numerous international trading partners, such as China and the European Union, have already responded with retaliatory measures.
Before Leader Trump revealed on April 2 that the US would impose tariffs on 185 nations, Bitcoin's price was still hovering around USD87,000.
Trump's earlier campaign promises included turning the US into the "crypto center of the world" by backing digital assets, alongside plans for a “national bitcoin reserve plan.”
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