Bitcoin Falls Below $77K as Crypto Joins Global Market Selloff
Bitcoin’s rally hit a major speed bump this weekend as the world’s most valuable cryptocurrency sank below the $77,000 mark. The dip follows renewed global market turmoil sparked by a fresh round of U.S. tariffs under President Donald Trump’s latest economic policy moves.
At the time of writing, Bitcoin is trading around $76,221, down about 4% in the past 24 hours, according to Coin Metrics. This marks a nearly 30% drop from its all-time high in January, when Bitcoin briefly broke past $100,000. While it had been hovering comfortably above $80K for most of the year, recent volatility has shaken that stability.
Last week, Bitcoin managed to resist the broader market plunge, even climbing slightly as stocks and gold slipped. But that resilience didn’t last.
Overnight, Ethereum (Ether) and Solana took steeper hits, falling 8% and 6%, respectively. The downturn wasn’t just price-based — massive liquidations followed.
According to CoinGlass:
- $247 million in Bitcoin long positions were wiped out in 24 hours
- Ether traders lost $217 million over the same period
These forced sell-offs occurred as leveraged traders betting on price increases were caught off guard and had to unwind their positions.
The crypto crash coincides with a massive global market rout. Investors scrambled to unload risky assets after Trump rolled out new blanket tariffs on all imports, with additional duties aimed at key trading partners.
The impact was immediate:
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- $7.46 trillion in global stock market value evaporated in just two trading sessions
- $5.87 trillion lost in U.S. markets
- $1.59 trillion dropped globally outside the U.S.
The fear? A full-blown trade war leading the U.S. and possibly the world into recession.
Bitcoin is now down 15% in 2025, and analysts see few crypto-specific catalysts on the horizon. Instead, Bitcoin’s movements are expected to mirror equities, as economic worries and recession fears dominate sentiment.
Still, some experts see a potential silver lining.
“There is a lot of noise at the moment,” said Geoff Kendrick, Head of Digital Assets Research at Standard Chartered.
“But U.S. isolationism could increase the risks of holding fiat. In that light, Bitcoin may eventually emerge as a hedge against tariff risks.”
Bottom Line: As traditional markets convulse under the weight of tariff fears, crypto is no longer dancing to its own beat. Traders and investors should brace for more turbulence — and watch closely for signs of decoupling, or deeper entanglement, between digital assets and traditional finance.
Source: CNBC – Bitcoin drops below $77,000 as cryptocurrencies join global market rout
