Bitcoin's Unexpected Drop

In a surprising turn of events, Bitcoin has extended its losses, slipping below the $87,000 mark for the first time since November 14, 2024. This significant drop has left investors and market watchers pondering the future of cryptocurrencies amidst global economic uncertainties.

Investors on Edge

United States President Donald Trump's recent confirmation that his tariff agenda is "moving very rapidly" has added to the market's unease. Investors are now grappling with the potential implications of these tariffs on the global economy and the cryptocurrency market.

The Bybit Hack Fallout

Adding to the turmoil, the cryptocurrency community is still reeling from a major hacker attack on the Bybit exchange. This incident resulted in the theft of over $1.5 billion in Ethereum, shaking investor confidence and raising questions about the security of digital assets.

At 5:23 am ET, Bitcoin was down by 5.16%, trading at $86,796, while Ethereum saw a 6.25% decline, selling for $2,356 at 5:26 am ET.