FX.co ★ Bitcoin Sinks Below 78K Amid Global Market Turmoil

Bitcoin has dipped below 78,000, reflecting the extensive market downturn that has eroded investor confidence. The cryptocurrency is now down nearly 28% from its January peak of 109,225, following the inauguration. Bitcoin initially surged past 100,000 post-election, fueled by optimism that Trump's administration would be favorable towards the crypto sector. Despite briefly surpassing 80,000 last week after new tariff announcements triggered global market turbulence, Bitcoin has now reversed direction. The current selloff indicates that larger macroeconomic concerns, such as rising interest rates and geopolitical tensions, are outweighing the previous optimism. Analysts note that this decline represents a broader retreat from riskier assets, with cryptocurrencies being particularly affected. While some view this downturn as a healthy correction, ongoing regulatory uncertainties and global market dynamics could maintain downward pressure on Bitcoin in the near future.