Bitcoin’s price has fallen sharply amidst global market turmoil, dipping below $75,000 on Monday morning. This marks a significant drop from just after President Donald Trump’s election victory last year, which led to a bull run in cryptocurrency prices.
Despite being touted as a digital gold and a hedge against volatility, Bitcoin’s latest decline suggests its value has not yet proven stable. Analyst Garrick Hileman states, “It’s just not there today… (Bitcoin) trades like a risky tech stock.”
Other major cryptocurrencies, such as Ether and meme coins launched by President Trump, have also seen significant price drops. The decline in cryptocurrency prices follows the broader sell-off in global markets.
Source: https://apnews.com/article/trump-bitcoin-crypto-tariffs-ether-4b59eeac841cb1dd1b71d7fec14be94e