Bitcoin Price Drops 5% Following Trump's Global Tariff Announcement

The cryptocurrency market has experienced a significant downturn following President Trump's announcement of a 15% global tariff. The price of Bitcoin has dropped by 5%, falling below $65,000, while Ethereum has also declined to below $2,000.

The tariff announcement has led to a risk-off sentiment across markets, causing major altcoins to slip and the global crypto market capitalization to decline. Analysts suggest that Bitcoin may test $60,000 before a rebound, indicating a possible bottoming out of the market.