Bitcoin's Steep Decline Continues

In a dramatic turn of events, Bitcoin has continued its downward trajectory, falling below the $87,000 mark for the first time since November 14, 2024. This significant drop has been attributed to a combination of factors, including economic uncertainties and the aftermath of a major hacker attack on the cryptocurrency exchange Bybit.

Economic Uncertainties and Hacker Attack Impact

Investors are grappling with the implications of President Donald Trump's rapid tariff agenda, which has introduced a layer of unpredictability into the global markets. Additionally, the cryptocurrency community is still reeling from the Bybit incident, where over $1.5 billion in Ethereum was stolen, further exacerbating the market's volatility.

Market Reaction

At 5:23 am ET, Bitcoin was down by 5.16%, trading at $86,796. Ethereum also saw a significant decline, dropping by 6.25% to $2,356 by 5:26 am ET. These developments have left investors and market analysts closely monitoring the situation, as the cryptocurrency market faces one of its most challenging periods in recent history.