Bitcoin price falls below $80,000 again after ten days

Bitcoin has recorded its lowest price since mid-November. As of 7:30 a.m. on the 11th, Bitcoin is trading at $79,316, down 2.28% from 24 hours ago

The price of Bitcoin (BTC) has fallen below $80,000 again after ten days. Bitcoin has now reached its lowest price since mid-November.

According to data from global coin market tracking site CoinMarketCap as of 7:30 a.m. on the 11th, Bitcoin is trading at $79,316, down 2.28% from 24 hours ago. The $80,000 level has collapsed again after ten days since February 28.

At the same time, Ethereum (ETH) has dropped 7.54% to $1,874. Ripple (XRP) is trading at $2.04, down 5.14%, and Solana (SOL) stands at $118, a decrease of 7.11%.

Local experts in the United States are attributing the decline of Bitcoin to the U.S.-China tariff war, sluggishness in the U.S. stock market, and a decrease in institutional investor demand. They also mention the drop in the New York stock market as a cause.

Recently, the technology-focused Nasdaq index has seen a significant decline, leading to a cooling in the preference for risky assets.

The price of Bitcoin soared above $100,000 following the election of President Donald Trump, who has shown a friendly attitude toward virtual assets. On January 20, the day Trump was inaugurated, it even exceeded $109,000.