Bitcoin fell below $80,000 as global markets reeled from President Donald Trump’s new tariffs, according to CNBC. The duties triggered fears of a global recession and wiped out over $7 trillion in market value over two trading sessions. The cryptocurrency dropped 4% to nearly $76,000 on Monday and is now down nearly 30% from its January peak. Bitcoin saw over $400 million in long liquidations in 24 hours as falling prices forced traders to sell and cover losses, according to CoinGlass.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Bitcoin fell below $80,000 as global markets reeled from Donald Trump's new tariffs,
00:07according to CNBC.
00:08Duty's triggered fears of a global recession, wiped out over $7 trillion in market value
00:13over two trading sessions.
00:15Cryptocurrency dropped 4% to nearly $76,000 on Monday.
00:19It's now down nearly 30% from its January peak.
00:23Bitcoin saw over $400 million in long liquidations in 24 hours as falling prices forced traders to
00:28sell and cover losses, according to Coinglass.