Stock market earthquake drags down cryptocurrencies with Bitcoin plunging more than 10%

The cryptocurrency market is also being affected by the earthquake in the stock markets caused by Donald Trump's tariff policy.

Since Friday and throughout the weekend, bitcoin has dropped significantly in value to below $77,000 this Monday at 7:00 a.m. (EDT). At some points in the early hours of the morning it was as low as $74,000.

In this way, the currency is verging on pre-November election values, when after Donald Trump's victory it managed to soar to all-time record prices.

Cryptocurrencies and the blockchain sector are not directly affected by the tariff measures implemented in the current trade war. However, cryptocurrency mining activity is indirectly impacted, as it requires expensive computer and computational equipment.

However, inflation and trade instability are factors that have affected the value of the major crypto currencies.

Alongside Bitcoin has also dropped Ethereum by 17.4%, settling at around $1,400 per as of 7:00 am (EDT). At its lowest point, its plunge reached a 20% decline.

Solana is down 19.2% in the past week to around $100 at the same time. XRP was also down 16.1% to $1.75 this morning on the East Coast.