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According to Coin Metrics, Bitcoin has dropped below $80,000 after spending the majority of this year trading above that level.
After Trump’s tariffs stoked fears of a worldwide recession, frightened investors liquidated their holdings of cryptocurrencies, which trade around the clock, over the weekend, expecting more carnage.
Geoff Kendrick, head of digital assets research at Standard Chartered, wrote in an email on Sunday, “There is a lot of noise at the moment.”
The price of bitcoin was about 4% lower at $76,221, according to Coin Metrics, after trading above $80,000 for the majority of this year, with a few brief dips below it amid recent volatility. The flagship cryptocurrency typically trades like a big tech stock and is frequently viewed by traders as a leading indicator of market sentiment, but last week it bucked the broader market meltdown — holding between $82,000 and $83,000 and rising to end the week as stocks tumbled and even gold fell. Bitcoin fell below the $80,000 level as investors braced for more financial market volatility after U.S. equities experienced their worst decline since 2020 after the implementation of President Donald Trump’s restrictive global tariffs.
Overnight, several cryptocurrencies experienced greater losses. The Solana-related token and ether fell about 6% and 8%, respectively.
A wave of long liquidations resulted from Bitcoin’s decline, as traders who had been banking on a gain in price were compelled to liquidate their holdings in order to offset their losses. According to CoinGlass, long liquidations of bitcoin have generated almost $247 million in the last day. In the same time frame, Ether had lengthy liquidations totaling $217 million.
A lot of noise
After Trump’s retaliatory tariffs stoked concerns of a worldwide recession and prompted investors to sell any risk, frightened investors liquidated their holdings of cryptocurrencies, which trade around the clock, over the weekend in anticipation of further carnage.
In addition to custom tariffs for significant trading partners, the charges on all imports have raised concerns about a worldwide trade war that may push the United States into a recession. Global markets were rocked by growing worries about the tariffs’ far-reaching effects.
According to S&P Dow Jones Indices, global stocks lost $7.46 trillion in market value in the two sessions after the tariff announcement, based on the market capitalization of the S&P Global Broad Market Index.
This amount comprises a $1.59 trillion decline in market value in other significant international markets and a $5.87 trillion loss in the U.S. stock market during those two sessions.
As concerns about the global recession outweigh any legislative tailwinds that cryptocurrency was supposed to receive from this year, Bitcoin is down 15% in 2025 and is predicted to continue sliding in lockstep with stocks unless there is a crypto-specific stimulus.
Geoff Kendrick, head of digital assets research at Standard Chartered, wrote in an email on Sunday, “There is a lot of noise at the moment.”
“This time around, I believe Bitcoin will turn into a hedge against tariff threats. Bitcoin will eventually gain from U.S. isolationism, which is comparable to heightened dangers associated with owning money.
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