Bitcoin Drops Below $90K Amid Market Turmoil

The cryptocurrency market has faced significant turmoil with Bitcoin dropping below the critical $90,000 mark amid macroeconomic pressures and security breaches. This decline was partly triggered by the $1.5 billion hack of the Bybit exchange, exacerbating the already bearish sentiment caused by market jitters over U.S. tariffs and economic uncertainty under the Trump administration. This has led to a $325 billion wipeout in crypto market capitalization, with altcoins like Ethereum and Solana also experiencing sharp declines. The drop in Bitcoin has caused widespread liquidations, totaling $1.48 billion, while trading volumes surged due to the increased volatility. Additionally, major crypto-linked stocks such as Coinbase and Riot Platforms have seen declines as investors retreat from risk assets. The market downturn highlights the ongoing volatility and risks in the crypto sector, as traders adjust to the evolving economic landscape.