Bitcoin's Significant Drop Below $80,000

In a surprising turn of events, Bitcoin has plummeted below the $80,000 mark for the first time since November 11. This decline is part of a larger trend affecting the world's largest cryptocurrencies, signaling a period of intense market volatility.

Factors Contributing to the Decline

Several factors have contributed to this downturn, including growing uncertainty over Trump's tariff plans and the recent $1.5 billion Bybit crypto heist. These events have significantly shaken investor confidence, leading to a sharp decrease in cryptocurrency values.

Market Reaction

As of 9:39 pm ET, Bitcoin was down by 5.48%, trading at $79,997. Similarly, Ethereum experienced a significant drop, falling by 6.50% to $2,151 by 9:44 pm ET. This market reaction highlights the fragile state of the cryptocurrency market amidst external pressures.