Bitcoin drops to $76K amid escalating US-China trade war
Trump’s harsh tariffs, Strategy’s losses, and declining risk assets crash crypto market.
Bitcoin sharply declined on Wednesday, nearing a six-month low, amid rising global trade tensions. The trigger was the activation of new tariffs by the Trump administration — as of midnight Wednesday, a 104% duty on Chinese goods came into force, prompting a wave of sell-offs across global financial markets.
Bitcoin dropped to $76,523, losing over 4% by morning Moscow time. At its lowest point, it fell to $74,600. The decline wiped out recent price rebounds, and technical analysis indicated a “death cross,” pointing to a potential continuation of the bearish trend.
The plunge was accompanied by deteriorating sentiment toward digital assets. Further pressure came from Strategy (NASDAQ:MSTR), the largest public bitcoin holder, which reported $5.9 billion in unrealized losses as of March 31. The company’s stock plummeted following the disclosure.
Fears of a full-scale trade war pushed speculative assets — including cryptocurrencies — under pressure. Investors are shifting funds into more stable assets such as the Japanese yen and gold, weakening the argument for bitcoin as a reliable hedge.
The bitcoin crash also dragged down altcoins: – Ethereum fell 7.4% to $1,459 — its lowest level in two years
– XRP dropped to $1.80
– Solana, Cardano, and Polygon fell by 2–3%
– Among meme tokens, Dogecoin declined by 3.5%, and $TRUMP by 3.1%
Global markets remain under strain: China, the EU, and other major economies are preparing countermeasures, heightening global uncertainty. Analysts warn that further escalation could lead to a prolonged correction in the crypto market as investors flee risk.
Do you have news that could become a sensation?
Or do you want to try yourself as an editor?
On altn.news , it's possible!
Share your materials, express your opinion, and test your skills as a journalist or editor.
It’s simple:
✅ Download the app:
✅ Register on the website.
✅ Create and publish your news.
Who knows, maybe your material will become the next big headline!
Start today on altn.news.
The editorial board is not responsible for the content and accuracy of material taken, sent or obtained from other sources. The publication of such materials is for informational purposes only and does not imply automatic endorsement or approval of their content.
