Why Is Bitcoin Down Today? Trump Tariffs Spark Market Panic as BTC Slides Below $75K
Bitcoin (BTC) plunged to as low as $74,804 on Monday, marking its lowest level in months and igniting fresh concern across crypto markets.
The sudden drop followed President Donald Trump’s sweeping tariff announcement, which has reignited fears of a global recession and triggered a sharp sell-off in risk assets—including cryptocurrencies.
As of this writing, Bitcoin is trading at $76,577.05, down nearly 9.5% in 24 hours, and nearly 30% off its January all-time high near $110,000.
Trump’s Tariffs Trigger a Risk-Off Avalanche
The catalyst for the crash is clear. Trump’s “Liberation Day” tariffs, which imposed a blanket 10% import tax on foreign goods and targeted levies of up to 54% on imports from China and India. The move spooked global markets, sending equity indexes tumbling worldwide and wiping out trillions in value.
Bitcoin, often treated as a proxy for risk-on sentiment, was caught in the crossfire. According to Coinglass, more than $411 million in Bitcoin long positions were liquidated in the past 24 hours, underscoring the severity of the market’s move.
“The window of uncertainty has only widened …
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