London markets lower as Trump says UK trade deal without tariffs a possibility

Pedro Goncalves writes:

Bitcoin (BTC-USD) has experienced a sharp decline, plummeting by 25% over the past month as broader market uncertainty continues to impact the cryptocurrency landscape.

This week, bitcoin (BTC-USD) fell below $80,000 for the first time since November, dropping as much as 7.1% in a single day. The cryptocurrency’s low of $78,956 marks a stark contrast to the highs of over $109,000 reached just a month ago.

Caroline Bowler, CEO of BTC Markets, pointed out that the current market sentiment mirrors the crisis of 2022 when prices collapsed during the so-called “crypto winter” amid rising interest rates and the collapse of the FTX exchange.

She added that the recent downturn could be linked to broader macroeconomic fears, including concerns surrounding Trump’s tariffs and escalating geopolitical tensions.

“This tanking can be viewed as a response to macro fears on Trump’s tariffs and geopolitical uncertainty,” Bowler said.

Bitcoin (BTC-USD) is now on track for its worst month in three years. The last time the largest cryptocurrency fell as much as June 2022, when it fell by more than a third. This week alone, BTC has dropped almost 18%, the steepest slide since the week ended Nov. 13 of the same year.