Bitcoin Falls Below $80,000... "Increasing Uncertainty"

Expansion of Economic Uncertainty Lowers Risk Asset Preference
"Virtual Assets Still in Early Stages, High Potential for Rebound"

The price of Bitcoin has fallen below $80,000. This is interpreted as ongoing economic uncertainty continuing to impact the market, along with disappointment over U.S. President Donald Trump's virtual asset policies.

According to the global virtual asset market tracking site CoinMarketCap as of 10:11 AM on the 11th, Bitcoin recorded $77,133.33, down 5.23% compared to the previous trading day (24 hours ago). In addition, Ethereum plunged 11.89%, while Ripple (XRP) and Solana also dropped 11.81% and 10.23%, respectively.

Bitcoin surged to the $94,000 range after President Trump announced on the 2nd of this month that he would strategically reserve five virtual currencies, including Bitcoin. However, as the U.S. continues tariff policies against countries like China amid ongoing economic uncertainty, Bitcoin sharply dropped to $86,000 on the 4th and has continued to decline due to recession concerns. Especially, news that President Trump is willing to accept a U.S. recession to enforce tariff policies has pushed the price below $80,000.

With President Trump's inauguration, Bitcoin reached an all-time high of $109,000. Expectations rose as he had indicated before taking office that he would implement virtual asset-friendly policies. In fact, after his inauguration, President Trump established a virtual asset task force (TF) within the U.S. Securities and Exchange Commission (SEC).

He also signed an executive order to reserve Bitcoin. Recently, he even held a Crypto Summit, demonstrating a pro-virtual asset stance. However, the announced policies have been evaluated as not significantly different from previously released content, leading to disappointment.

The industry assesses that while President Trump's pledges remained unchanged, market expectations were higher. A virtual asset research analyst at a securities firm explained, "Trump's virtual asset policies were very consistent with his pledges, but the market was more optimistic, which led to disappointment."

Recently, virtual asset prices seem to be influenced more by economic conditions than policies. Since President Trump’s inauguration, the tariff war has raised concerns about U.S. inflation and recession, increasing uncertainty. In other words, as risk asset preference declines, Bitcoin prices are also on a downward trend.

Another securities firm researcher said, "After a meme coin related to Argentine President Javier Milei was issued last month and then sharply dropped, the related market deteriorated, and the virtual asset exchange Bybit was hacked, causing significant liquidity outflows. Additionally, the global market environment is very negative toward risk assets, which explains the current situation."

However, experts are positive about the virtual asset market. One expert stated, "The official designation of virtual assets as strategic reserves in the U.S. means their status as an asset class has been officially elevated. Since investment in Bitcoin is still in its early stages, if it accelerates, an upward trend could be expected."