Bitcoin Hits $74,637 Low, Over $246 Billion Wiped from Crypto Assets Amid Trump's Tariffs

Bitcoin's value has plummeted below $75,000, marking a significant decline amid global market turmoil triggered by U.S. President Donald Trump's tariff policies. The cryptocurrency fell to an intraday low of $74,637, reflecting a broader downturn in financial markets as investors react to escalating trade tensions.

The drop in Bitcoin's price comes as part of a wider sell-off across risk assets, with over $1.41 million in crypto positions liquidated in the past 24 hours. The decline follows Trump's announcement of a 10% baseline tariff on all imports, with higher rates targeted at specific countries, including a 34% tariff on Chinese goods and a 20% tariff on products from the European Union. Ether also fell to $1,446, marking an 18.5% decline over the past week.

The market's reaction to Trump's tariffs has been swift and severe, with Bitcoin shedding over 10% of its value in just 24 hours. This downturn has erased nearly all of the cryptocurrency's gains since Trump's election win in November, highlighting its volatility amid global economic uncertainty. Over $246 billion has been wiped from the value of crypto assets, including Bitcoin, which once reached an all-time high of $108,000.

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