Bitcoin (BTC) has dipped below $90,000 amid global economic uncertainties and political tensions, notably after Donald Trump's announcement of a 25% tariff on Canada and Mexico. This economic turmoil has led to increased crypto market sell-offs, with Bitcoin hitting a low of $86,300, showcasing significant volatility.
The overall crypto market has lost $230 billion, indicating investor caution, paired with $508 million exiting crypto funds, signaling growing skepticism. Other cryptocurrencies, like XRP, continue to decline, exacerbated by the recent Bybit hack, further undermining market confidence.
Despite market challenges, there are positive developments in the crypto sphere. The US SEC's dropped case against Coinbase suggests a more favorable regulatory stance. Meanwhile, Michael Saylor remains bullish on Bitcoin, continuing his purchase spree, signaling underlying faith in the market.
