Bitcoin Drops 6% to $77,730 Amid Global Market Volatility

Bitcoin experienced a significant decline over the weekend, dropping 6% to $77,730. This sharp fall was triggered by a wave of market volatility that swept through global markets following the announcement of new tariffs by US President Donald Trump. The broader sell-off last week led to a steep decline in US equities, which in turn affected digital assets.

The leading cryptocurrency, which had maintained a level above $80,000 throughout 2025, broke below the key $78,000 level for the first time in weeks. This drop puts Bitcoin roughly 28% off its January all-time high. Other major tokens also saw steep losses, with Ethereum tumbling 13% to $1,568, XRP dropping nearly 12%, and Solana shedding over 12% to $105.43.

Bitcoin’s recent behavior has mirrored that of major tech stocks, often moving in sync with indices like the S&P 500 and Nasdaq. In March, analysts recorded a weekly correlation of 0.88 between Bitcoin and the equities market. This alignment was evident as last week’s sell-off across Wall Street, driven by fears of a global trade war, pulled Bitcoin down with it.

Market stress was not limited to the US. On Monday, the Hang Seng index slumped more than 10% in morning trade, its largest single-day drop since the 2008 global financial crisis. Chinese stocks also fell sharply as the country faced over 50% in US tariffs. Beijing responded by announcing new levies on American imports, escalating concerns that a full-blown trade war could tip the global economy into a deep recession.

Despite the market turmoil, some in the crypto space urged calm. Gadi Chait, investment manager at Xapo Bank, stated, “These price swings may rattle speculators, but ultimately, this is just noise. Bitcoin has always been and always will be a long-term play; its value lies in its inherent sovereignty, decentralization, and finite nature, not short-term volatility. We’ve been here before, and we’ll likely be here again, but Bitcoin’s long-term trajectory remains undeniable.”

However, signs of stress were clear in derivatives markets. Coinglass data showed $976 million in crypto positions were liquidated in the past 24 hours, with long positions accounting for $842.2 million of that total. More than 318,000 traders were liquidated, showing how quickly sentiment can shift in turbulent times.

Traders are now watching the $76,600 level closely. A break below it could signal a deeper correction is on the horizon. For now, however, Bitcoin remains within a broader trading range, with bulls hoping this is just another temporary shakeout in an otherwise resilient market.