Bitcoin has tumbled below the $75,000 mark, with total weekly losses over 11% amid mounting fears of a global recession and U.S.-China trade tensions.
The immediate trigger for the price crash was the aggressive 104% tariff imposed by President Trump on Chinese goods.
Bitcoin's sensitivity to macroeconomic instability is evident as institutional activity saw significant outflows, contributing to the downward momentum.
Analysts warn that the current situation resembles late 2018, with a weakening economy and rising bond yields posing as a global threat.