The digital unit fell to as low as $79,525.88 in early Asian trade — its lowest level since November 11. The unit saw an eye-watering rally after Donald Trump’s election victory in November. But the euphoria has dulled in recent weeks as the US president has pursued a hardball policy of hammering partners with tariffs and threatening to spark a global trade war. His pledges to slash taxes and immigration have also fanned concerns that he could reignite inflation, forcing the Federal Reserve to keep interest rates elevated longer than had been expected, while recent data have indicated the US economy is slowing. The sell-off in the cryptocurrency sector gathered pace amid volatility in global markets. It is the first time in more than three months that the digital unit has fallen below $80,000. The market closed on Thursday at $78,856.88, down from $78.99,881 in the previous day. It was the lowest level for the digital token since November.
