Bitcoin Suffers Significant Drop After Trump’s Reciprocal Tariff Announcement

Crypto markets experienced a sharp downturn this past Thursday morning, with Bitcoin prices plummeting by over 6%. The price of Bitcoin fell from an intraday high of $87,790 to approximately $82,277 before recovering slightly. This drop follows President Donald Trump’s announcement of reciprocal tariffs on a wide range of countries, causing concern in the financial markets. The market capitalization of cryptocurrencies fell below $2.74 trillion, marking its lowest point in three weeks. The move has sent shockwaves through the cryptocurrency world and raised alarm about potential economic repercussions.