Bitcoin Falls Below $80K As Trump’s Tariffs Spark Recession Fears And Over $7 Trillion In Market Losses

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.