Why is the cryptocurrency market in decline?

The threat of reintroducing trade tariffs by Donald Trump, which generated uncertainty in global markets and also affected the cryptocurrency sector. Additionally, there were internal events in the ecosystem, such as the hack of one of the largest exchanges (Bybit) in the market, where over US$ 1.5 billion in Ethereum was stolen.

Bitcoin deepens its decline, losing US$ 80 thousand and raising fears of a new 'winter'

Analysts point out that weakness may indicate that prices could still fall further; see how much more

Bitcoin (BTC) recorded a strong decline in the last 24 hours, dropping more than 8% around 5 a.m. this Friday (28). At 6:15 a.m., the cryptocurrency was trading at around US$ 79 thousand, accumulating a drop of 7.8% compared to the same time yesterday.

This is the lowest value since November 10, 2024, and increases the losses from the all-time high reached on the day of Donald Trump's inauguration in the United States, on January 20, to more than 27%.

The turbulence was not limited to Bitcoin. Other cryptocurrencies recorded even sharper losses during the period. Ethereum (ETH) fell 9.6%, XRP dropped 9.1%, while Cardano (ADA) gave up more than 10%. As a result, the crypto market as a whole lost US$ 235 billion in market value in just 24 hours, according to data from CoinGecko.

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