The price of Bitcoin plummeted to $77,158.52 as of 11:30 AM WAT on Monday, following the announcement of sweeping new trade tariffs by U.S. President Donald Trump on all goods imported into the United States. The digital asset’s sharp decline was reported by Block Chain data services.
Bitcoin, which began the year trading at $94,419.76, has now shed 18.28% of its value—translating to a loss of roughly $291 billion in market capitalization. The cryptocurrency is also down 6.65% from its last close of $83,504.80 on Saturday, April 5.
This marks Bitcoin’s worst first-quarter performance since 2018, according to Dow Jones Market Data.
The recent selloff comes despite early optimism in the wake of Trump’s re-election, during which he signaled strong support for digital currencies and pledged to establish the U.S. as a global leader in crypto innovation.
However, investor sentiment has been rattled by escalating trade tensions and renewed concerns over global economic growth, casting a shadow over crypto markets and equities alike.
Still, not all analysts are bearish. Some see the current dip as a temporary setback. “Despite near-term volatility, uncertainty is decreasing, and institutional buying pressure is returning,” said Valentin Fourner, analyst at BRN. “With key catalysts aligning, we expect Bitcoin to rebuild momentum and make another attempt at $90,000 in the near future.”
The coming weeks will likely test investor confidence as global markets respond to the broader impact of the tariffs and shifting macroeconomic signals.