Bitcoin Declines Amid US Tariff Concerns and Crypto Scandals
Bitcoin has fallen below $80,000, marking a 25% drop from last month’s peak, as US tariff threats from President Trump and crypto-related scandals shake investor confidence.
Key Factors Behind the Decline:
Bybit Hack: The Dubai-based exchange lost $1.5 billion in Ethereum, with the FBI blaming North Korea.
Argentine Crypto Scandal: President Javier Milei is under investigation for promoting the now-collapsed $LIBRA token.
Investor Sell-offs: Bitcoin traded at $95,000 earlier in the week before investors moved funds to safer assets.
Trump’s Influence on Crypto:
Despite once calling crypto a “scam”, Trump now supports Bitcoin, promising to make the US a crypto hub.
He launched $TRUMP and Melania Trump introduced $MELANIA, both of which lost value quickly.
SEC lawsuit against Coinbase dropped, signaling regulatory easing under Trump.
Market Outlook:
With ongoing trade tensions, regulatory shifts, and security concerns, Bitcoin’s recovery remains uncertain.
