Biggest Cryptocurrency price crashes after ‘first bitcoin president’ slaps global tariffs. Here is what has gone wrong

Bitcoin, often described as the biggest or the most popular cryptocurrency, price has plunged 10 per cent since US President Donald Trump announced his global tariffs last week. Bitcoin price fell below $78,000 on Sunday night. Bitcoin reached a record price of nearly $110,000 on January 20, 2025 when Trump took the oath of office to become the 47th president of the United States, as per a report.

The rapid drop shows that bitcoin, often pitched as a stable long-term source of value, is still subject to the gyrations of the broader market that has cratered since Trump announced broad import taxes last week. Many investors treat bitcoin just like any other tech stock, a risky investment that it makes sense to sell in difficult times, NYT News Service reported.

Virtually everyone in the cryptocurrency world celebrated the second election of President Donald Trump, an enthusiastic booster of the industry who promised to turn the United States into the “crypto capital of the planet.”

But now the man nicknamed “the first bitcoin president” is presiding over a bitcoin crash, the report says.

Since he won a second term, Trump has largely made good on his promises to help the crypto industry. He has appointed regulators who support crypto and signed an executive order directing the creation of a government stockpile of bitcoin.

At the same time, Trump has also broadened his personal investments in the crypto world, marketing a so-called memecoin to his supporters. But the impact of his tariffs on the crypto market has led to some downfall in rates.

FAQs

Q1. Which is the most popular Cryptocurrency?
A1. Bitcoin is the most popular Cryptocurrency.

Q2. Who is President of USA?
A2. President of the USA is Donald Trump.