Bitcoin Drops 1.52% to $108,958.00 USDT Amid Tariff Concerns

Bitcoin's value experienced a notable decline, falling below $109,000 USDT. The cryptocurrency was trading at approximately $108,958.00 USDT, marking a daily decrease of 1.52%. This drop came after Bitcoin reached record levels, prompting a wave of profit-taking that drove the price down. The decline was attributed to several factors, including market overheating concerns and new U.S. tariff announcements, which sparked a sell-off in the cryptocurrency market. The price drop was also influenced by President Trump's 50% EU tariff announcement, which added to the market's volatility.

Analysts noted that the price drop was a pullback on profit-taking, as is to be expected after upward movements. The decline was also seen as a potential opportunity for bullish strategies to deliver positive results in the May options expiry, provided that Bitcoin maintains the $109,000 level. However, bears may try to influence the market and push the price further down. The price drop was also noted to impact trading across global markets, leading to ripple effects in the broader financial landscape.