Apr 8, 2025
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Bitcoin Declines Over 7% as US Tariffs Impact Crypto Market
The cryptocurrency market, led by Bitcoin (BTC), faced a downturn following US tariffs set to take effect. Key points include:
- BTC declined over 7% in 24 hours, dropping from approximately $82,300 to around $74,500.
- Altcoins including Ethereum (ETH), Solana (SOL), and XRP fell by 17.2%, 16%, and 15.8%, respectively.
- Total crypto market capitalization decreased by nearly $130 billion.
- Analysts warn of potential further declines; BTC has shown a death cross, indicating increased selling pressure.
- Peter Brandt suggests BTC may drop to the 50% retracement level of $54,000.
- Some investors view current price declines as an opportunity to accumulate BTC, particularly if it falls between $65,000 and $71,000.
