Bitcoin (BTC) price slumps 28% from its record as market observers try to unpack the reasons behind the drop

Bitcoin isn't the only asset that has fallen in recent weeks. The US stock market has also experienced a dip that has pushed the Nasdaq 100 Index

The passage provides a concise overview of the factors that may have contributed to Bitcoin's recent decline from its all-time high. It highlights macroeconomic concerns, such as the potential for Trump's tariff plans to dampen the US economic recovery, and the massive hack of PlusToken, which drained a reported 180,000 Bitcoin from user wallets.

Moreover, the article mentions Bitcoin's high beta nature, which tends to amplify market movements, and the strong correlation between Bitcoin and major US equities, such as Apple and Microsoft, which could indicate a broader market factor at play.

However, it's important to note that attributing Bitcoin's price drop solely to PlusToken or Trump's tariff plans might be an oversimplification. Bitcoin's price is influenced by a complex interplay of various factors, including regulatory policies, network adoption rates, and broader market trends.

Furthermore, the article's claim that PlusToken is the biggest hack ever might be disputed, as other hacks, such as the 2017 theft of 119,754 Bitcoin from the Tokyo-based exchange Bitcoins, have reportedly yielded even larger sums.

Overall, the passage offers a snapshot of the speculations surrounding Bitcoin's price decline, but a complete understanding would require a deeper analysis of the technical and fundamental factors driving the cryptocurrency market.