Bitcoin dive as Trump tariffs rattle markets

Bitcoin fell sharply to a near one-month low in early Monday trading, dropping 8.14 per cent by 04:34 AM ET (08:34 GMT), as investor risk appetite evaporated following steep new trade tariffs imposed by US President Donald Trump.

The broader cryptocurrency market mirrored the sharp downturn in global equities, with traders fleeing riskier assets amid growing fears of a global trade war.

Ether, the world’s second-largest cryptocurrency, tumbled nearly 13 per cent to $1,577.30 — its lowest level since October 2023. XRP slid 11.4 per cent to $1.9033, while other major altcoins, including Solana, Cardano, and Polygon, all dropped more than 10 per cent each.

Meme tokens were also hit hard. Dogecoin plunged nearly 13 per cent, and $TRUMP fell 15 per cent to a record low of $7.87.

Market analysts warned that continued uncertainty over global trade dynamics could keep crypto and equity markets under pressure in the coming days.

Attribution: Investing.com
Subediting: M. S. Salama