The price of Bitcoin has fallen below the 75,000 Dollar level, as investors brace for more Volatility in the financial markets after U.S. stocks posted their worst performance since 2020, following President Donald Trump's implementation of strict global tariffs.

Heavy losses in the crypto market
Bitcoin recorded a notable drop, falling below $75,000, by 7% in the last 24 hours, reaching its lowest level since Trump's victory, at $74,501. Ethereum, the second largest cryptocurrency by market capitalization, also plummeted to $1,417, by nearly 20%.

These devastating losses coincide with President Trump’s insistence on moving forward with comprehensive tariffs, a step that has already wiped out trillions of dollars in market value of U.S. stocks.

In contrast, U.S. index futures experienced a sharp decline, while the Japanese yen rose, indicating a clear increase in the state of turmoil and uncertainty in global markets.

However, data from the CoinGlass platform (CoinGlass) showed that the market experienced a liquidation of Long Positions worth nearly 745 million Dollar in the last 24 hours, which is the highest level of liquidation since nearly six weeks.

Bitcoin is typically traded in a manner similar to that of major tech stocks, and is often viewed by traders as an early indicator of overall market sentiment. However, last week saw Bitcoin diverging from this pattern, maintaining its level between $82,000 and $83,000, and rising over the weekend despite the collapse of stocks and even a drop in gold.