Bitcoin dips below $75k amid trade war turmoil 

This sharp drop represents a significant decline of over 10% from $84,000 last week, highlighting intensifying economic anxieties and the cascading effects of a broader financial downturn.

The cryptocurrency’s recent price movement mirrors heightened volatility in conventional markets. This includes a notable slump in the Dow Jones Industrial Average, which shows how intertwined Bitcoin has become with macroeconomic sentiment.

The broader market collapse stemmed from the sweeping announcement of blanket tariffs on all U.S. imports, stoking fears of a full-fledged global trade war.

Research firm 10X Research has flagged Bitcoin’s bearish trend after it fell below the $96,000 support level.

Analysts have cautioned that macroeconomic deterioration could push prices even lower, reinforcing the view that the sell-off extends beyond crypto to broader risk assets.

The Federal Reserve, however, remains hesitant to respond swiftly. Despite robust U.S. nonfarm payrolls, Fed Chair Jerome Powell expressed concerns that tariffs might fuel inflation, suggesting major rate cuts are unlikely in the short term.

The S&P Global Broad Market Index reported a staggering loss of $7.46 trillion in market value over just two trading days—$5.87 trillion from U.S. markets and $1.59 trillion globally, according to S&P Dow Jones Indices.