Bitcoin falls by 5pc at 84,201 dollars
Business
Number two cryptocurrency Ether, gained 1.58pc
(Reuters) - Bitcoin, the world's largest cryptocurrency by market value, dropped 5% to $84,201 durin trading as market nerves over US tariffs reinforced the blow to crypto investor confidence from last week's $1.5 billion hack of ether from the Bybit exchange.
Number two cryptocurrency Ether, gained 1.58% as of 22:06 GMT.
Global investors have been jittery on signs the so-called exceptionalism of the U.S. economy might be fading, while President Donald Trump prepares to impose tariffs.
Trump indicated on Monday he still plans to slap a 25% levy on imports from Canada and Mexico from early March and, in a sign of unease, safe-haven U.S. Treasury prices have rallied sharply, sending yields to two-month lows.
"The macroeconomic situation has been the main reason for the price decline in the last few hours," said Marcel Heinrichsmeier, crypto assets analyst at DZ Bank.
"The Bybit hack and the memecoin turmoil of the past few weeks have contributed to a generally worse mood in the crypto market than at the beginning of the year."
