Bitcoin's Price Plummets Below $87,000

In a significant downturn, Bitcoin has fallen below the $87,000 mark for the first time since November 14, 2024. This decline is part of a broader trend affecting the cryptocurrency market, influenced by global economic uncertainties and recent security breaches.

Economic Policies and Security Concerns Impacting the Market

United States President Donald Trump's confirmation that his tariff agenda is advancing rapidly has added to the economic uncertainty, prompting investors to reassess the stability of global markets. Additionally, 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.

Market Reactions and Price Movements

At 5:23 am ET, Bitcoin experienced a 5.16% drop, trading at $86,796. Similarly, Ethereum saw a 6.25% decrease, with its price falling to $2,356 by 5:26 am ET.