🪙🪙🚨#BTC Why has Bitcoin experienced a notable drop in its value?. #bitcoin
Falling below $90,000 for the first time since mid-November 2024. Currently, its price hovers around $87,080, reflecting a decrease of 7.7% from the previous close. #Bitcoin❗
🎯Factors that have influenced this drop:
1. Economic uncertainty in 🇺🇲 the United States: The tariff policies of the Trump administration, including the imposition of a 25% tariff on imports from Canada and Mexico, have raised concerns about a possible economic slowdown and trade wars, leading investors to shy away from risk assets like cryptocurrencies.
2. Significant hack of Bybit: A recent cyberattack resulted in the theft of $1.5 billion in Ether tokens from the Bybit exchange platform, affecting investor confidence in the security of the crypto ecosystem.
3. Scandals in the crypto market: Events such as the collapse of the cryptocurrency $Libra, promoted by Argentine President Javier Milei, have increased distrust in the market and contributed to price volatility.
Additionally, other cryptocurrencies like #ETH Ethereum and #xrp XRP have also recorded drops of 11% and 15%, respectively, in the last 24 hours. Companies related to the sector, such as Coinbase and Riot Platforms, have experienced significant declines in their stock values.
In summary, the combination of economic uncertainty, security issues, and scandals in the market has influenced the recent drop in the price of Bitcoin and other cryptocurrencies.