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:

• $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

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According to Coin Metrics, Bitcoin is on track for a 38% gain in November, making it the best-performing month since February, when it gained 45% after the launch of spot bitcoin ETFs. At the end of the month, Bitcoin was trading around $97,081, with earlier peaks reaching $98,722.

Trump’s Election Victory Fuels Bitcoin Surge

Bitcoin’s rise in November was strongly tied to the anticipation of a second Trump presidency. During his campaign, Trump presented himself as a champion for the cryptocurrency industry, promising to bring clarity and stability after a period of regulatory uncertainty. This optimism from investors led to Bitcoin’s surge toward $100,000.

A potential second term for Trump is seen as a positive catalyst for Bitcoin, boosting the crypto market’s legitimacy. His presidency could lead to larger budget deficits, higher inflation, and changes in the global role of the U.S. dollar—factors that tend to support Bitcoin’s price.

Bitcoin ETFs and Institutional Interest

After Trump’s election victory, Bitcoin ETFs, particularly BlackRock’s popular IBIT fund, saw massive inflows. This fueled further demand, even as some long-term Bitcoin holders sold off their positions to take profits. The introduction of Bitcoin ETF options also created new ways for investors to trade and speculate on the cryptocurrency’s price.

Long-term Bitcoin holders have been selling while institutional investors, including those backing ETFs, have been buying. This shift reflects growing interest in Bitcoin as an investment, with many institutions using it as part of their portfolio.

Looking Ahead: Bitcoin’s Price Could Reach $100,000 by Year-End

Bitcoin bulls are optimistic about its future, with many predicting it will hit $100,000 by the end of 2024. Some even expect the price to double by the end of 2025. Although Trump’s victory sparked an immediate price boost, analysts believe Bitcoin’s fundamentals—such as the reduction in supply from this year’s halving and the growing institutional demand—will continue driving the price higher in the long term.

Bitcoin’s price cycles typically peak about a year after each halving event, meaning the best may be yet to come. As more institutions, states, and countries consider Bitcoin a treasury reserve asset, demand is expected to push the price even higher.

Source

Top picture credit: CryptoQuant|Bloomberg|Getty Images

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Asian stock markets showed signs of recovery on Thursday, bouncing back from early losses as U.S. stocks hit record highs following Donald Trump’s victory in the 2024 presidential election. Investors are now turning their attention to the Federal Reserve’s interest rate decision, set to be announced later in the day.

Japan’s Nikkei 225 index fell 0.4%, settling at 39,339.74, amid concerns over potential trade tensions under a Trump administration. Neil Newman, head of strategy for Astris Advisory Japan, pointed out that Trump’s tariff policies could lead to uncertainties.

Meanwhile, in Seoul, South Korea’s Kospi index rebounded by 0.5%, closing at 2,576.30. Australia’s S&P/ASX 200 also gained 0.1%, reaching 8,204.80.

Chinese markets saw notable gains. Hong Kong’s Hang Seng rose by 0.9% to 20,729.01, and the Shanghai Composite increased by 0.9%, reaching 3,413.47. A key factor behind the Chinese market’s strength was a report showing a 13% year-over-year increase in exports for October, marking the fastest growth in over two years.

Trump has pledged to implement tariffs of up to 60% on Chinese imports, a move that could further strain the Chinese economy, which is already grappling with slowing growth. This uncertainty about higher tariffs and Trump’s tax and regulation policies is influencing market sentiment.

Zichun Huang of Capital Economics suggested that while the impact of tariffs may not be immediate, there is still a risk of escalating trade tensions. However, he added that Chinese shipments might remain strong in the short term, despite any potential drag from Trump’s policies.

In the U.S., stocks surged on Wednesday. The S&P 500 soared 2.5% to 5,929.04, marking its best day in nearly two years. The Dow Jones Industrial Average jumped 3.6% to 43,729.93, and the Nasdaq Composite gained 3%, reaching 18,983.47. All three indices hit fresh record highs.

The long-term effects of Trump’s second term on the U.S. economy will depend largely on whether Republicans gain control of Congress, a development that is still uncertain. Investors are betting that Trump’s policies could stimulate economic growth, which could result in higher bond yields. The yield on the 10-year U.S. Treasury bond rose to 4.43%, up from 4.29% the previous day.

Trump’s pro-business policies, including tax cuts and deregulation, could lead to faster economic growth, but they might also contribute to higher inflation and costs for U.S. households. Trade tensions and restrictions on immigration could add to inflationary pressures, as businesses may raise wages to address labor shortages.

Wall Street’s recent rally has been fueled by expectations of interest rate cuts from the Federal Reserve, as inflation has moderated. However, with the economy showing signs of strength, traders are now revising their expectations for how many rate cuts the Fed will make next year.

The Federal Reserve is widely expected to announce an interest rate cut on Thursday, although traders have begun adjusting their expectations for the number of cuts throughout 2024.

In other markets, the U.S. dollar weakened slightly against the Japanese yen, falling to 154.46 from 154.62. The euro rose to $1.0740 from $1.0730.

Crude oil prices were up, with U.S. benchmark crude increasing by 45 cents to $72.14 per barrel. Brent crude, the international standard, was up 55 cents, reaching $75.47.

Bitcoin saw a slight decline, dropping to $75,780 after hitting an all-time high above $76,480 on Wednesday. Trump has expressed plans to make the U.S. the “crypto capital of the planet,” promising to create a “strategic reserve” of bitcoin.

As markets adjust to Trump’s victory and look ahead to the Fed’s decision, the path forward remains uncertain, with many factors—domestic and international—set to influence global economies in the months to come.

• Asian shares regained momentum on Thursday after early losses, as investors focused on how Donald Trump’s victory might influence the economy and global markets. Attention is also turning to the Federal Reserve’s upcoming decision on interest rates.
• Stocks in Asia bounced back following a strong performance in U.S. markets, driven by optimism around Trump’s return to office. As global investors assess Trump’s economic policies, all eyes are also on the Federal Reserve’s interest rate announcement.
• After early market dips, Asian shares recovered as Trump’s win spurred hopes of stronger economic growth. Investors are now looking ahead to the Fed’s rate decision, with expectations that it could influence market trends.
• Stocks in Asia saw a boost after Trump’s victory, with optimism around his economic policies and potential tariffs. As investors digest these factors, the Federal Reserve’s decision on interest rates remains a key focus for markets.
• In the wake of Trump’s win, Asian markets rallied as investors placed their bets on how his presidency might impact the global economy. Now, market attention shifts to the Federal Reserve’s interest rate decision later in the day.

Source

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