In this news:
Bitcoin prices fell over 7% in less than 24 hours in the last few days. (Photo illustration by ... More Chesnot/Getty Images)
Getty Images
Bitcoin prices have taken a tumble recently, suffering a notable decline as risk assets experienced widespread losses following U.S. President Donald Trump’s latest tariff announcement.
The world’s most prominent digital currency fell to roughly $81,300 today, according to CoinMarketCap data.
At this point, the cryptocurrency had lost more than 7% of its value after reaching an intraday high of nearly $88,000 less than 24 hours earlier at roughly 4:15 p.m. EST, additional CoinMarketCap figures reveal.
Since depreciating to an intraday low of approximately $81,300, bitcoin has recovered somewhat, but at the time of this writing, it was trading close to $83,000.
Yesterday, after the stock market closed, U.S. President Donald Trump announced the latest round of tariffs, which impose a 10% blanket rate on very country in the world.
This change, which Trump made citing the authority he has under the International Emergency Economic Powers Act of 1977, is scheduled to take effect on April 5.
The president revealed that the U.S. will place additional tariffs on specific countries, for example China, which have benefited from large trade surpluses with the U.S. These policies are set to take effect on April 9.
After the White House delivered this news, risk assets started to decline. Bitcoin, along with many other digital assets, suffered losses.
When the U.S. stock market opened the following day, equities experienced notable drops. The benchmark S&P 500 index, for example, lost 4.8% in a single day, according to Google Finance data. The tech-heavy Nasdaq Composite suffered an even greater drop, shedding approximately 6% today.
.png)
