Bitcoin extended its losses on Tuesday, dropping below $87,000 for the first time since November 14, 2024. The fall in cryptocurrencies comes as United States President Donald Trump confirmed that his tariff agenda is "moving very rapidly," which caused investors to consider the implications of the economic uncertainty on the global markets. Investors were also still digesting the major hacker attack on the cryptocurrency exchange Bybit that resulted in more than $1.5 billion in Ethereum being stolen.
Bitcoin dropped by 5.16% at 5:23 am ET and sold for $86,796. Meanwhile, Ethereum declined by 6.25%, selling for $2,356 at 5:26 am ET.
