Bitcoin tumbled over 6 percent to $77,700 on Sunday, reaching its lowest level in three weeks as global markets reacted negatively to President Donald Trump’s new tariff policy.
The cryptocurrency selloff extended beyond Bitcoin, with Ethereum dropping nearly 12 percent to $1,575. The decline coincided with sharp falls in U.S. equity futures, where S&P 500 E-mini futures dropped 4.3 percent, Dow futures fell 4 percent, and Nasdaq 100 futures sank 4.6 percent during early Asian trading.
The market turbulence follows Saturday’s implementation of sweeping U.S. tariffs, including a flat 10 percent levy on most imports and higher rates for specific countries, 34 percent on Chinese goods and 20 percent on European Union imports. These measures aim to match trade barriers faced by U.S. exports abroad.
After remaining relatively stable through the weekend, the crypto market began its decline in the early hours of Monday, signaling significant investor concern.
Some analysts remain cautiously optimistic, suggesting that not all stakeholders in developed countries support the rapid tariff implementation, which could lead to potential policy adjustments. Others note that while further downside is possible, particularly if the EU retaliates, many investors are already watching for re-entry opportunities.
“The crypto market is entering a phase of deep uncertainty,” one analyst commented. “Trump’s approach appears to be seeking leverage while managing downside risk.”
