Following President Donald Trump's announcement of substantial new tariffs, the cryptocurrency market has experienced significant volatility. Bitcoin's price fell below the $80,000 mark, reaching approximately $76,819.50, a 7.65% decline over the past 24 hours. This downturn is part of a broader market reaction to escalating trade tensions and fears of a global recession.
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Cryptocurrency markets are under pressure following President Trump's announcement of substantial reciprocal tariffs, leading to increased global trade tensions. Bitcoin has dropped 1.1% to $82,163, while XRP slightly increased by 0.3% to $2.04. The broader market downturn is attributed to these trade policies, with potential further declines anticipated.
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Potential Turning Point for Bitcoin: Some analysts suggest that Bitcoin's current price levels, approaching $80,000, may represent a critical juncture. While the recent decline underscores its correlation with traditional risk assets, there is speculation that investors might soon emphasize Bitcoin's store-of-value properties.
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