Crypto ‘meltdown’ amid tariff uncertainty
Bitcoin slumped below €77,000 on Friday for the first time since November following President Donald Trump’s latest volley of tariffs.
Concerns about the global economy fuelled by fears of a global trade war, coupled with disappointing results this week from AI chip manufacturer Nvidia, have led investors to exit investments seen as risky.
One of the most volatile assets currently is bitcoin, which briefly dived below €77,000 on Friday for the first time since November.
The cryptocurrency lost more than 25 percent of is value when compared to the €105,000 it was worth when Trump was re-inaugurated as US President in January.
“The crypto sector is suffering a bit of a meltdown today,” said Trade Nation analyst David…
