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Gbeminiyi Ogunleye
1 month ago
Overview
Bitcoin drops below $77,000 amid US recession fears
Bitcoin and other major cryptocurrencies tumbled on Tuesday as concerns over the US economy and trade tensions grew.
Bitcoin dropped 3.2% to $79,937 after hitting a low of $76,624. Ethereum fell sharply by 7.5% to $1,911. The global crypto market cap declined 4.3% to $2.6 trillion, The Economist reports.
Solana, XRP, Cardano and Dogecoin also suffered losses, with Dogecoin plunging 8.5%.
Investor confidence weakened after former US President Donald Trump, in a Fox News interview, mentioned a “period of transition” but did not clarify if his tariff policies might lead to a recession.
