"Trump Tariffs Are Scary"... Bitcoin Also Breaks Below $78,000 Level

Ripple Down 11.63%, Ethereum Down 13.19%
"Weekend Sell-Off Increases Amid Tariff Uncertainty"

Trump and Bitcoin. Photo by Asia Economy DB

Bitcoin is experiencing a sharp decline due to the shock caused by U.S. President Donald Trump's imposition of reciprocal tariffs. Altcoins such as Ethereum, Ripple (XRP), and Solana have also fallen more than 10% compared to the previous 24 hours, indicating a growing cautious sentiment in the virtual asset industry.

According to the global cryptocurrency exchange Coinbase as of 9:40 a.m. on the 7th, Bitcoin is trading at $77,881 (approximately 114.41 million KRW), down 6.55 percentage points from 24 hours earlier. Considering that it was recorded at $88,500 (approximately 124.88 million KRW) around 5 a.m. on the 3rd, when the reciprocal tariff rate was announced, this represents a drop of more than 12 percentage points.

Bitcoin began to show weakness starting on the 3rd, the day after President Trump announced the reciprocal tariff imposition policy, hovering around the $80,000 level before showing a steep decline on this day.

The U.S. economic news channel CNBC analyzed, "As concerns about a global economic recession grew due to President Trump's tariffs, investors sold off all risks," adding, "Investors who were anxious about cryptocurrencies trading 24 hours a day disposed of them over the weekend."

Meanwhile, leading altcoins Ethereum and Ripple are also showing significant declines. Ethereum is trading at $1,557.18 (approximately 2,306,917 KRW), down 13.19% over 24 hours, and Ripple is trading at $1.89 (approximately 2,786 KRW), down 11.63%.

This content was produced with the assistance of AI translation services.