Bitcoin Plunges Below $80,000 Amid Trade War Fears, Marking Lowest Point Since November 2024

Bitcoin's price plummeted below $80,000 on Friday, marking its lowest level since November 2024, amidst growing concerns over a potential trade war triggered by President Trump's tariffs. According to Cointelegraph Markets Pro data, BTC has fallen over 6.5% in the last 24 hours. The broader crypto market has experienced a significant downturn, with Bitcoin losing 20% of its value over the past week. This sell-off has erased nearly all gains recorded since Trump's election victory. Analysts attribute the decline to macroeconomic concerns and weakened investor confidence. CoinGlass data reveals that over $918 million of leveraged positions have been liquidated, impacting more than 225,000 traders. The average purchase price of Bitcoin this year is approximately $97,880, leaving investors facing an unrealized loss of over 18%. Some analysts predict a further correction to $70,000, while others suggest that continued dip buying from institutions may prevent such a drastic fall before March 2.