Bitcoin Drops Below $80,000 as Crypto Market Faces Major Setbacks

A combination of Trump's tariff threats, a record-breaking crypto heist, and memecoin failures has shaken investor confidence in the volatile cryptocurrency market.

Bitcoin has fallen 28% from its all-time high of $109,000 last month, trading at around $78,000 today, marking its lowest value since November 2024.
President Trump's proposed tariffs on Mexico, Canada, and China have raised fears of inflation and economic instability, driving investors away from riskier assets like cryptocurrencies.
The $1.5 billion Bybit hack, the largest crypto heist ever, has further eroded trust in the security of cryptocurrency investments.
Memecoin failures, including Trump's $TRUMP token and Argentina's $LIBRA, have led to billions in investor losses, amplifying skepticism about the broader crypto market.
Despite the downturn, the SEC recently dropped lawsuits against major crypto platforms like Coinbase and Uniswap, a move seen as a potential long-term positive for the industry.