Bitcoin Loses Massive Gains As Tariff Shock Hits Crypto

Benzinga

Bitcoin dropped below last year’s closing level after sliding past $93,714, erasing its year-to-date gains. Analysts cite tariff-driven market turmoil, institutional outflows, profit-taking, and leveraged liquidations as sentiment remains weak following October’s selloff.

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00:00It's Benzinga bringing Wall Street to Main Street

00:02Bitcoin fell below last year's closing level after sliding past $93,714, erasing the more

00:09than 30 percent gain it posted earlier in the year, according to Bloomberg.

00:14The decline followed a drop from its October 6th record of $126,251 after Trump's unexpected

00:20tariff comments sparked a global market sell-off.

00:24Institutional buyers who helped drive Bitcoin's earlier rally have stepped back, and ETF inflows

00:29have slowed after taking in more than $25 billion this year.

00:33Analysts said the sell-off reflects profit-taking by long-term holders, institutional outflows,

00:38macro uncertainty, and liquidations of leveraged positions.

00:41Bitcoin has swung sharply throughout the year, falling to $74,400 in April after Trump unveiled

00:48tariffs and rallying before its latest downer.

00:51Analysts said October's tariff-driven liquidations continue to weigh on market sentiment, leaving

00:55traders cautious and depriving crypto of bullish catalysts.

00:59For more things money, visit Benzinga.com.

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