Bitcoin Drops 6% to $77,840 as Tariffs Spark Market Selloff

Bitcoin's price experienced a notable decline, falling below the $78,000 mark on Sunday, trading at $77,840. This drop represented a 6% decrease as investors responded to increased volatility in the broader financial market. Earlier in the week, Bitcoin had reached a high of $83,959.19 on Friday, but the subsequent fall below $78,000 signaled growing instability. This downward trend was intensified by recent tariff announcements, which sparked a broader market selloff. The tariff-induced market turbulence resulted in a global stock market decline, with Bitcoin crashing over 7% to below $78,000. The cryptocurrency's price had previously dropped to a four-month low of $74,409 amid these announcements, but it began recovering and was trading around $79,673. Despite this recovery, the failure to break above key resistance levels such as $80,500 or $81,500 could lead to another leg down. Key support levels to watch include $79,500, which serves as immediate support. The recent price movements underscore the sensitivity of Bitcoin to broader market conditions and geopolitical events, highlighting the need for investors to remain vigilant in the face of potential volatility.