The price of Bitcoin has experienced a sharp decline, falling below 84,000 dollars and reaching a low of 82,131 dollars, levels not seen since November 2024. This sell-off coincides with the announcement of the latest package of trade tariffs by former president Donald Trump, who imposed a 25% tariff on the European Union, in addition to previous measures on Canada, Mexico, and China.
Not only Bitcoin: the market crash and the bear sentiment
Not only has Bitcoin experienced a significant decline, but the stock markets have also reacted negatively. The S&P 500 lost about 500 billion dollars in market capitalization due to concerns over a potential global trade war.
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According to the trader IncomeSharks, the market is going through a bear phase, with BTC sold in response to the growing sentiment of economic uncertainty. The correction comes after the November 2024 rally, fueled by the US electoral race, which had pushed Bitcoin to new all-time highs.
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