Concerns over tariffs and the recent breach of a crypto exchange may be fueling a decline not seen since President Trump’s election victory in November. Investors in cryptocurrencies are seeing red today.

Bitcoin price hovers around $88,800 on Wednesday after reaching a low of $86,050 the previous day. US Bitcoin spot Exchange Traded Funds supported BTC's price correction, recording the highest single-day outflow of $937.90 on Tuesday.

Cryptocurrencies have seen precipitous drops in their valuation amid a bout of controversies. While crypto is no stranger to market instability, this latest drop is value is more notable than most. Bitcoin has dropped to its lowest price since November 2024, dipping below £71,000, as has Ethereum.