Bitcoin and the rest of the crypto market plunged to new lows over the weekend as the fallout from President Trump’s Bitcoin has fallen 12% since Trump announced a deluge of tariffs on Wednesday, targeting imports from a list of countries including important U.S. trade partners like Vietnam, Japan, and China. The world’s leading cryptocurrency has tumbled to a low of $74,700 in the last 24 hours, wiping out previous post-election gains.
The broader crypto market has also been hammered by the tariff selloff, as investors opt for less risky investments or flee financial markets altogether. While Bitcoin is down 4% on Monday, other cryptocurrencies have fallen further with Ethereum falling 10%, XRP 9%, and Solana 7%. All together, the crypto market has now wiped out 9% of its total market cap since Trump’s tariff announcement, falling from $2.72 trillion to $2.47 trillion.
