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 in value comes at a time when global markets are grappling with economic uncertainty, further exacerbated by recent statements from United States President Donald Trump regarding his tariff agenda.

Impact of Global Economic Policies

President Trump's confirmation that his tariff agenda is "moving very rapidly" has led investors to reconsider the potential implications on the global economy. The uncertainty surrounding these policies has made the cryptocurrency market particularly volatile, with Bitcoin and Ethereum experiencing notable declines.

Cybersecurity Breach Adds to the Crisis

Adding to the cryptocurrency market's woes, a major hacker attack on the cryptocurrency exchange Bybit resulted in the theft of over $1.5 billion in Ethereum. This incident has further shaken investor confidence, contributing to the downward trend in cryptocurrency values.

As of 5:23 am ET, Bitcoin had dropped by 5.16%, selling for $86,796, while Ethereum declined by 6.25%, selling for $2,356 at 5:26 am ET.