Cryptocurrency Market Plummets Amid Tariff Turmoil and AI-Driven Uncertainty

The cryptocurrency market has been hit hard in recent days, with a sharp decline in prices erasing $150 billion in value. Bitcoin's price has fallen below $63,000, marking its weakest level since early February. The asset's drop is largely attributed to a combination of factors, including fresh tariff headlines and uncertainty surrounding the economic impact of artificial intelligence.

The latest developments on tariffs have fueled a broader risk-off shift that has hit equities and crypto simultaneously. Traders are also grappling with uncertainty surrounding the economic impact of AI, which has contributed to a decline in risk appetite.

Altcoins have followed Bitcoin lower, with Ethereum trading around $1,800, XRP at $1.32, and BNB at $587. High-beta names like Solana have been hit harder, with SOL falling to $76 and extending its weekly losses. The broader market's synchronized decline has led to a significant contraction in value, with Bitcoin's market cap falling to about $1.260 trillion.