Key Points
- Today, BTC dropped below $80,000 for the first time since March 11.
- BTC’s price drop comes amidst extreme fear in the crypto markets.
Bitcoin recorded a price drop below $80,000 today, for the first time since March 11. The digital asset’s descendant trajectory debuted yesterday evening from $82,000 levels.
BTC saw a price decline of around 2% on April 6, which continued today, taking the digital asset’s price to $76,000 levels earlier.
At the moment of writing this article, BTC is trading above $76,000, down by over 7% in 24 hours.
BTC price in USD todayBitcoin’s recent price drop came after the digital asset held above $80,000, despite a sharp drop in traditional markets after the US President Donald Trump announced his tariff policy.
Today, the fall in the traditional US stock market futures continued, and earlier the S&P 500 futures were down by over 22%, according to data from The Kobeissi Letter .
Crypto Market Enters Extreme Fear Zone
Since Trump’s April 2 announcement, BTC maintained prices above $80,000 until Sunday evening. During the past weekend, on April 5, the crypto industry celebrated Satoshi Nakamoto’s birthday.
Bitcoin’s price drop comes amidst a decline in the general crypto market of over 9% in the past 24 hours, with the Fear and Greed Index entering the Extreme Fear zone.
The 24-hour crypto liquidations surpassed $1 billion in 24 hours, with over $877 million in long positions and over $141 million in shorts.
Trump Maintains Tariff Policy
Meanwhile, Trump continues to support his tariff policy, saying that the US has massive financial deficits with China, the European Union, and other countries. According to him, the only way this problem can be cured is with tariffs, which are now bringing tens of billions of dollars into the US.
He said that the surplus with these countries had grown during Joe Biden’s administration and that the US would reverse the trend quickly. Trump explained that people will realize that tariffs “are a beautiful thing.”
We have massive Financial Deficits with China, the European Union, and many others. The only way this problem can be cured is with TARIFFS, which are now bringing Tens of Billions of Dollars into the U.S.A. They are already in effect, and a beautiful thing to behold. The Surplus…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 7, 2025
Recently, Trump also insisted that the Fed should cut interest rates in the US. The next FOMC meeting is scheduled for May 7, and the chances of a new rate cut surged to over 49%, according to data from CME Group.
Meanwhile, while the broader market panics, the latest Bitcoin price drop represents an accumulation opportunity, amidst continued global adoption.
