Bitcoin (BTC) Price Falls Below $75,000 for the Second Time This Week, Pushing Weekly Losses to Over 11%

Bitcoin has fallen below the $75,000 mark for the second time this week, pushing its total weekly losses to over 11%.

Bitcoin price fell below the $75,000 mark for a second time this week amid reports of U.S.-China trade tensions and a 104% tariff on Chinese goods.

The world’s biggest cryptocurrency slid 4.2% over the past 24 hours to $74,108.4 by 07:15 ET (11:15 GMT). It had fallen as low as $73,000 earlier in the session.

Bitcoin price is now down over 11% from its weekly high, pushing it deeper into bear market territory.

The broader cryptocurrency market also slid, wiping $42 billion off the market cap in the past 24 hours. Still, most altcoins showed gains on the day.

Top movers (1h)

Dogecoin (CRYPTO: DOGE) led the gains with a 5.5% rally, pushing higher after reports that X, formerly known as Twitter, is planning to integrate blockchain technology.

Solana (CRYPTO: SOL) and XRP (CRYPTO: XRP) both rose nearly 5%, while Binance Coin (BNB) ticked up 1.49%.

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What Happened

The latest leg lower in the market came after the U.S. announced a steep 104% tariff on Chinese goods in retaliation for alleged breaches of intellectual property rights.

The move sparked a global sell-off, as investors shifted toward safer assets amid the ongoing trade war and fears of a global recession.

Trump’s Tariffs Spark Global Sell-Off

The latest market drop was triggered by President Donald Trump’s decision to enforce a 104% tariff on Chinese imports. The move has shaken investor confidence and led to a global shift toward safer assets.

Stocks, bonds, and cryptocurrencies are all reacting to the growing tension between the world’s two largest economies.

Bitcoin Hit Hard as Institutions Exit

Bitcoin, which often reacts strongly to economic uncertainty, saw heavy selling. Institutional behavior confirmed this trend—BlackRock’s iShares Bitcoin Trust (IBIT) sold 3,296 BTC in one day, its third-largest outflow since launch. In total, U.S. Bitcoin ETFs recorded $326 million in net outflows that day, adding more pressure to the already falling price.

Bitcoin briefly rallied to $80,400, suggesting a short-lived recovery. But the bounce quickly faded, and prices dropped again—forming a classic bull trap. According to Coinglass, over $390 million in crypto positions were liquidated as traders got caught in the sudden reversal.

Altcoin Market Stays Weak

Altcoins saw a short spike. Ethereum (ETH) rose 2.04% to $1,567, while Solana (SOL) and XRP both climbed nearly 5%. Dogecoin led the hourly gains with a 5.5% surge, and Binance Coin (BNB) ticked up 1.49%. Despite this, the total crypto market cap dropped by 4.27% in the past 24 hours, pointing to a rally driven more by speculation and likely false news than real improvement.

Economists Warn Of 2018-Style Slowdown

Experts are now comparing the current situation to late 2018, when the Federal Reserve had to reverse its policies due to a slowing economy. BitMEX co-founder Arthur Hayes warned that the Fed is “on the clock,” citing the troubling combination of falling stock prices and rising bond yields.

Economist Peter Schiff added that if Trump’s goal was to trigger a market crash in order to push the Fed into lowering interest rates, the move may be backfiring—long-term Treasury yields are climbing to new highs instead.

When Will The Fed Step In?

With markets under pressure, speculation is rising that the Fed may cut interest rates as early as May. Analysts believe this could help calm the volatility—especially if paired with an easing of U.S.-China trade tensions.

Until then, Bitcoin is likely to stay under pressure, with $70,000 emerging as a key level to watch closely.

The world’s biggest cryptocurrency is caught in a storm of politics and panic – and for now, there’s no clear sky in sight.