Bitcoin's Value Drops Significantly

On Tuesday, Bitcoin experienced a significant drop, falling below $87,000 for the first time since November 14, 2024. This downturn in the cryptocurrency market comes as President Donald Trump confirmed that his tariff agenda is progressing quickly, leading investors to ponder the potential impacts on global markets.

Impact of Bybit Hack

Adding to the market's volatility, investors are also reacting to a major hacker attack on the cryptocurrency exchange Bybit, which resulted in the theft of over $1.5 billion in Ethereum. This incident has further shaken the confidence in digital currencies.

Current Market Status

As of 5:23 am ET, Bitcoin had dropped by 5.16%, trading at $86,796. Similarly, Ethereum saw a decline of 6.25%, with its value at $2,356 by 5:26 am ET.