TLDR:
- Bitcoin has fallen below $75,000, reaching an intraday low of $74,637
- The drop follows President Trump’s announcement of global tariffs, causing broader market volatility
- Over $247 million in Bitcoin long positions were liquidated in just 24 hours
- The flagship cryptocurrency is now down 31% from its all-time high of $109,000 reached in January
- Other cryptocurrencies like Ethereum and Solana have also experienced steep declines
Bitcoin (BTC) has plummeted below the $75,000 mark, trading at an intraday low of $74,637 as of early Monday morning. This represents a sharp decline of over 12% in a single day.
The cryptocurrency market tumble comes as investors react to volatility in broader financial markets. The sell-off was triggered by President Donald Trump’s recent announcement of restrictive global tariffs.
Bitcoin, which traded above $80,000 for much of the year, has now fallen 31% from its all-time high of $109,000 reached in January. Ironically, that peak was partly fueled by Trump’s election victory last November.
The cryptocurrency had been showing relative stability last week, holding steady between $82,000 and $83,000 even as stocks and gold tumbled. However, that resilience has now given way to selling pressure.
Market Liquidations Mount
The impact of the tariff announcement has been severe for crypto traders. Bitcoin experienced over $247 million in long liquidations in just 24 hours since Saturday.
Ethereum (ETH) faced similar pressure with $217 million in liquidations during the same period. Other cryptocurrencies haven’t escaped the downturn either.
Solana (SOL) has seen declines of approximately 12% as the negative sentiment has spread throughout the entire cryptocurrency ecosystem.
The selling pressure intensified over the weekend as fears of further market declines prompted investors to reduce their exposure to riskier assets, including cryptocurrencies.
Global Financial Impact
The tariffs announced by President Trump apply to all imports and include additional duties on major trading partners. This move has raised concerns about a potential global trade war.
The ramifications extend far beyond the crypto market. The S&P Global Broad Market Index recorded a loss of $7.46 trillion in market value following the announcement.
The U.S. stock market alone shed $5.87 trillion, while other major global markets declined by $1.59 trillion. This represents the worst decline in U.S. equities since 2020.
Bitcoin typically trades in correlation with large tech stocks and is viewed by many as a leading indicator of market sentiment. This connection appears to be strengthening during the current market turbulence.
As Bitcoin reflects these broader market trends, it has now seen a 15% drop in 2025. The cryptocurrency was initially expected to benefit from favorable regulatory developments this year.
However, analysts suggest that without any crypto-specific catalysts, Bitcoin will likely continue to move in tandem with equities. The current market dynamics are being overshadowed by fears of a global recession.
These economic uncertainties present a challenging landscape for cryptocurrencies in the near term. Investors are closely watching for any signs of stabilization in traditional markets.
The current price action represents a stark contrast to the optimism that surrounded Bitcoin earlier in the year. The cryptocurrency had been viewed as a potential hedge against inflation and currency debasement.
For now, Bitcoin appears to be behaving more like a risk asset than a safe haven. This pattern may continue as long as macroeconomic concerns dominate market sentiment.
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