Due to the aftermath of the tariff bomb from the Trump administration, major cryptocurrencies, which had plunged, are showing signs of recovery on the morning of the 8th. Bitcoin is continuing its upward trend and is nearing a re-entry above $80,000.
According to CoinMarketCap at 8 a.m. (local time) on that day, Bitcoin recorded $7,993, an increase of 2.59% compared to 24 hours earlier. It had dropped as low as $74,460 by 4 p.m. the previous day but began to recover as trading volume increased. The price of Bitcoin even rebounded to above $80,000 around 11 p.m. the previous day.
Ethereum is trading at $1,578, up 0.22%, while Solana is trading at $108, up 2.82%.
Ripple, which had seen a significant drop, is also showing signs of stabilization. After plummeting about 17% the previous day to $1.76, it has slightly recovered to $1.93 as of now.
The sharp decline in Bitcoin prices has also affected the stock prices of related corporations. MicroStrategy, known for holding the most Bitcoin, fell 8.67%, while Coinbase, the largest cryptocurrency transaction platform in the U.S., dropped by 2.04%.