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Home ยป Bitcoin Down to $77k amid Trump Tariff War

Bitcoin Down to $77k amid Trump Tariff War

Destiny Eseaga by Destiny Eseaga
April 7, 2025
in Digital Assets
0
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The price of Bitcoin slumped to $77,158.52 as of 11:30 AMย  WAT on Monday, riding on the back of newly imposed trade tariffs by President Donald Trump on all goods being exported to the United States by countries, according to price data from Blockchain.

The digital currency, which started the year at $94,419.76, has now lost 18.28 percent of its value, wiping off about $291 billion in investorsโ€™ funds.

It is currently trading 6.65 percent below the $83,504.80 it closed at on Saturday, April 5, 2025.

Bitcoin had rallied in the weeks after the election victory of President Trump, who was pro-crypto and vowed to make the U.S. a Bitcoin superpower.

However, an escalation of trade tariffs and fears of slowing growth have weighed on the digital currency.

Bitcoin is posting its worst first-quarter performance since the first three months of 2018, according to Dow Jones Market Data.

Despite this, some analysts still see potential for a rebound, according to reports. โ€œDespite near-term volatility, uncertainty is decreasing, and institutional buying pressure is returning. With key catalysts aligning, we expect Bitcoin to rebuild momentum and make another attempt at $90,000 in the near future,โ€ said BRN analyst Valentin Fourner.

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Destiny Eseaga

Destiny Eseaga

My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

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