Bitcoin falls to $81,688 as Trump announces tariffs

Bitcoin and other major cryptocurrencies fell sharply on Thursday after US President Donald Trump announced sweeping new tariffs, sparking a broad market sell-off, CNBC reported.

According to Coin Metrics, Bitcoin’s price fell nearly 6% to $81,688, while Ether fell 7% and Solana fell 13%. The drop came as the S&P 500 suffered its worst day since September 2022, and shares of cryptocurrency companies Coinbase and MicroStrategy each fell more than 7%.

Markets were jolted by Trump's announcement of sweeping tariffs of at least 10%, and higher for some countries, which could lead to a slowdown in global trade, weighing on stocks and risk assets.

Despite the volatility, some analysts have noted Bitcoin’s relative resilience compared to the broader stock market. David Hernandez, crypto investment specialist at 21Shares, said the asset’s ability to hold higher suggests that underlying demand for Bitcoin remains strong.

For most of last month, Bitcoin traded in a range of $80,000 to $90,000, with price movements largely reflecting trends in traditional markets amid the absence of major crypto-specific catalysts.