Bitcoin Fell to Its Lowest Level in Three Months Amid Uncertainty

Bitcoin registered its lowest level in over three months this Tuesday. The drop is due to uncertainty in financial markets and the impact of new tariffs announced by the United States.

Distrust among crypto investors increased after the cyber theft of 1.5 billion dollars in ether at the Bybit exchange last week. It is one of the largest attacks in the sector's history.

Bitcoin, the cryptocurrency with the largest market capitalization, fell below 90,000 dollars. This drop marked its lowest level since November 18, with a loss of up to 7.5% in a single day.

Markets on alert over Trump's trade policy

Global investors have reacted nervously to signs that the so-called "economic exceptionalism" of the U.S. might be losing strength. This occurs in a context where former President Donald Trumpprepares new tariffs.

On Monday, Trump confirmed his intention to impose a 25% levy on imports from Canada and Mexico starting in March. The protectionist stance has increased the demand for U.S. Treasury bonds. This reflects a general aversion to risk among investors.

Crypto market in crisis: thefts and altcoin crash

The crypto asset analyst at DZ Bank, Marcel Heinrichsmeier, explained:

"The macroeconomic situation has been the main cause of the price drop in recent hours. The tariff announcements and the protectionist stance of Trump's government have caused uncertainty. This has rekindled fears of a new trade war and a spike in inflation."

Additionally, the expert highlighted the impact of the recent attack on Bybit and the volatility of memecoins:

"The cyberattack against Bybit and the instability in the memecoin market have worsened the overall sentiment in the crypto market, even more than at the beginning of the year."

Altcoins plummet alongside Bitcoin

Bitcoin has lost almost 8% of its value in the last week, while altcoins have suffered even more drastic declines.

Memecoin, Dogecoin, and the tokens of Solana and Cardano have recorded losses close to 20%, according to data from CoinGecko.

Bybit, based in Dubai, is the second-largest cryptocurrency exchange in the world after Binance. The company confirmed that hackers stole digital assets valued at 1.5 billion dollars.

According to the analysis firm Elliptic, this cyberattack is more than twice the size of the last major cryptocurrency theft. They also warned that:

"It is almost certainly the largest known theft of any kind in all time."