Bitcoin is now below $80,000, the lowest level since November. This comes amid a growing macroeconomic unrest over US President Donald Trump’s tariff proposals.
Bitcoin dropped to $79752 on Feb. 27. according TradingView data. According to CoinGlass, the price decline of 2.65% over the last hour resulted in $80.28 millions worth of long positions being liquidated. data.
Bitcoin was last trading at this level in November, just days after Trump won the US presidency amid expectations that his crypto-friendly policies would spark a Bitcoin surge by 2025.
Many analysts point to the uncertainty in macroeconomics and are concerned about US President Donald Trump’s proposed tariffs Bitcoin and other crypto markets are declining for several reasons.
Trump was inaugurated on January 20, when Bitcoin hit an all-time high of $109,000The asset’s value has fallen by nearly 26%.
As new information becomes available, we will update this story.
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Source: cointelegraph.com
