Concerns over trade wars caused a sharp drop in cryptocurrencies. Bitcoin plummeted to below 75,000 dollars with nearly a 10% decrease in 24 hours. Ethereum also fell to as low as 1,420 dollars. Bitcoin fell below 75,000 dollars due to ongoing uncertainties related to US President Donald Trump’s customs tariff package. According to data from the analysis firm Coinmarketcap, the value of the global cryptocurrency market, including Bitcoin, decreased by approximately 10.58% in 24 hours to 2.39 trillion dollars. The price of Bitcoin, the largest cryptocurrency, dropped by over 10% in the past 24 hours amidst uncertainties regarding the potential consequences of the US’s aggressive customs tariff policies, falling below 75,000 dollars. As of 10:00 AM (GMT), Bitcoin was trading at 74,980 dollars, with a weekly value gain of 8.36%. Concerns have increased over the possibility of a widespread trade war that could lead to a global economic slowdown due to the US customs tariff package. Many trading partners, including China and the European Union (EU), have already announced countermeasures. Bitcoin had been trading between approximately 80,000 to 85,000 dollars in recent days. Before Trump announced on the evening of April 2 that customs tariffs would be imposed on 185 countries, one Bitcoin was still valued at around 87,000 dollars. Trump pledged to make the US the “cryptocurrency capital of the world” by supporting digital assets during his election campaign. Additionally, Trump has a national bitcoin reserves plan. While Donald Trump is seen as a supporter of digital currencies, he has yet to fulfill the hopes of crypto supporters. Bitcoin reached an all-time high of over 109,000 dollars on the day Trump took office. Ethereum, ranked 2nd in market value, also lost about 22% in price, dropping to 1,421 dollars.