Bitcoin's Sudden Drop Below $87,000

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 sent shockwaves through the cryptocurrency market, as investors grapple with the implications of ongoing economic uncertainty and recent security breaches.

Market Reactions to Trump's Tariff Agenda and Bybit Hack

United States President Donald Trump's confirmation that his tariff agenda is "moving very rapidly" has added to the market's anxiety, prompting investors to reassess the potential impact on global markets. Compounding the market's woes, the cryptocurrency community is still reeling from a major hacker attack on the Bybit exchange, which resulted in the theft of over $1.5 billion in Ethereum. These events have collectively contributed to the current downturn in cryptocurrency values.

Current Cryptocurrency Prices

As of 5:23 am ET, Bitcoin experienced a 5.16% drop, selling at $86,796. Similarly, Ethereum saw a 6.25% decline, with its price dropping to $2,356 by 5:26 am ET. These figures underscore the volatile nature of the cryptocurrency market, as it continues to respond to both economic policies and security challenges.