Bitcoin Slides Further from $80.000 as Crypto Losses Deepen
The rebound had initially spread across the entire crypto ecosystem. However, as the session progressed, the market turned negative.
After one of the worst days of the year for digital assets—driven by volatility stemming from the trade war reignited by Donald Trump’s tariff policies—the cryptocurrency market began to show signs of recovery. Over the past 24 hours, Bitcoin (BTC) bounced more than 3.3%, briefly surpassing the $80,000 mark on Binance, before pulling back below that level.
Ethereum (ETH) rose by about 5.8%, partially recovering from a sharp 20% drop that had dragged it down to levels last seen during the harsh crypto winter of 2022–2023.
The rebound extended across the crypto ecosystem, with standout gains from Hedera (16.2%), SUI (12.7%), Dogecoin (10.7%), and Ripple (8.6%).
This relief in digital assets coincided with a broader upswing in global stock markets. Wall Street ended the last session with mixed but modest moves, Asia opened with a sharp recovery—Japan’s Nikkei rose 5%—and European markets also started the day with slight gains.
The Shadow of the Trade War
Still, the outlook remains uncertain. Market swings are being heavily influenced by escalating trade tensions fueled by U.S. President Donald Trump. A rumored 90-day “truce” was swiftly denied by the White House, with Trump reaffirming plans to move forward with reciprocal tariffs on all countries except China.
A new 10% general tariff is set to take effect this Saturday. If Beijing doesn’t back down, Trump has threatened to raise tariffs on Chinese goods to 50%. In response, China doubled down on its stance: “We will fight to the end if the U.S. continues on this path,” said Chinese officials.
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