Bitcoin fell below US$80k, contributing to a massive liquidation of 330,000 traders totaling nearly US$938 million as the Fear-and-Greed Index firmly remains in 'Extreme Fear' territory.
President Trump acknowledged potential 'short term pain' as his administration works to 're-wire' the US economy through controversial tariff policies.
Analysts report approximately US$5.5 trillion has been wiped from financial markets, with one describing trading as feeling like 'an absolute death spiral'.
While Trump's tariffs are blamed as a major factor, some analysts argue the market decline stems from a broader and sudden shift in risk appetite, though many commenters directly attribute the downturn to the tariff policies.