Bitcoin slides to $81,000 as Trump tariffs jolt stock market
Bitcoin and other cryptocurrencies were under pressure Thursday after President Donald Trump’s big tariffs reveal jolted the stock market.
The price of the flagship cryptocurrency was last 5% lower at $81,914.63, according to Coin Metrics. Ether fell 6% and the token tied to Solana dropped 11%.
Meanwhile, stocks cratered, with the broad market S&P 500 posting its biggest one-day loss since 2020. Shares of Coinbase and MicroStrategy lost roughly 7% and 10%, respectively.
Investors were rattled after Trump unveiled sweeping tariffs of at least 10% and even higher for some countries, intensifying fears of a global trade war.
