In the past 24 hours, the cryptocurrency market faced another price drop with Bitcoin (BTC) nearing a retest of the lowest level of 2025, around $78,000. During this period, Bitcoin plummeted to $80,000, marking a 7% decline in the past day. However, the world’s largest cryptocurrency managed to slightly recover and is trading around $82,460 at the time of writing. Ethereum (ETH), Solana (SOL), and Ripple (XRP) also experienced similar declines, while Cardano (ADA) and Dogecoin (DOGE) faced nearly a 12% drop. Donald Trump, the former US President, in an interview with Fox News regarding the impact of tariff policies and budget cuts, said: ‘There may be some disruption.’ He continued: ‘China has a 100-year view, but we operate seasonally. We are laying a foundation for the future.’ Trump’s remarks on social media were likened to the ‘Volcker-ing’ approach, referring to Paul Volcker, the former Federal Reserve Chairman. Volcker, appointed by Jimmy Carter in 1979, curbed a decade-long inflation with a short-term intense interest rate hike. Analysts also attributed the recent market plunge to other major economic factors, including the implementation of new tariffs by Trump, the release of the Non-Farm Payrolls (NFP) report, and a White House summit with no practical outcome.
