Bitcoin has dipped to its lowest levels, falling to $74,500, marking a 6.5% decline over the past 24 hours due to escalating global trade tensions. The price has slightly recovered to around $77,179 but analysts speculate further losses are likely as markets react to President Trump's tariff announcements. Trump has proposed a 10% baseline tariff on imports, with significantly higher rates on Chinese and EU goods, prompting retaliatory tariffs from China and sparking fears of a prolonged trade conflict. The panic has also affected other cryptocurrencies, leading to double-digit losses across meme coins like Dogecoin and Shiba Inu. Over $1.41 million in crypto positions were liquidated as traders exited riskier assets. Experts suggest Bitcoin might be acting as a leading indicator of macroeconomic stress and caution that its future behavior could mirror either tech stocks or safe-haven assets, depending on how the geopolitical landscape evolves. The current scenario is a test for Bitcoin's identity and resilience in turbulent economic times.

Source 🔗