- Bitcoin slips under $77K as fear grips investors
- $7.4T erased from markets after tariff rollout
- Death cross forms, signaling extended BTC slide
The value of Bitcoin dipped below $77,000 for the first time in a week because worldwide market values plunged. The drop followed U.S. President Donald Trump’s announcement of broad import tariffs, raising fears of a global economic slowdown. Crypto traders responded by selling off assets, causing large-scale liquidations across digital currencies.
Tariff Announcement Sparks Global Sell-Off
The Trump administration’s decision to impose a 10% tariff on most imports, with higher rates for goods from China and the EU, triggered major financial losses. According to S&P Dow Jones Indices, global markets lost $7.46 trillion in value over two trading sessions. This included $5.87 trillion wiped from U.S. equities and $1.59 trillion from other regions.
Cryptocurrencies declined sharply as a result. Bitcoin dropped by nearly 7% on Sunday evening and was trading at $76,221 early Monday, according to Coin Metrics. Ethereum fell 15% to $1,538, and Solana dropped 13% to $107. CoinGlass data showed over $411 million in Bitcoin long positions were liquidated within 24 hours. Ethereum liquidations were also high at $349 million.
Investor sentiment weakened across the market, with the Crypto Fear & Greed Index falling to 23, indicating “extreme fear.” While some investors previously viewed Bitcoin as a hedge, the ongoing volatility shifted that view. BitMEX co-founder Arthur Hayes said on X that Bitcoin may still serve as a long-term store of value during periods of policy uncertainty.
Key Price Levels and Technical Outlook
Bitcoin has entered a bearish trend after dropping below its 200-day moving average. A death cross pattern has also formed, with the 50-day average crossing below the 200-day, suggesting continued downside risk.
The cryptocurrency had traded above $80,000 for much of 2025 but began weakening in late March.Traders are now watching support around $74,000. If that level fails, the next potential floor lies near $65,000, where previous peaks and troughs formed in 2023.
A deeper decline could lead to $57,000, an area that attracted buyers last year. On the upside, resistance is seen near $87,000, where past highs and key averages align.
