Bitcoin dips below $80,000 after dropping over 3% in two hours, dragging crypto market downward

The price of bitcoin dropped below $80,000 on Sunday as the cryptocurrency market experiences a significant dip amid macroeconomic uncertainty brought on by U.S. President Trump’s tariff announcements. The Block’s GMCI 30 index of the top 30 cryptocurrencies is down over 6% in the past 24 hours, as the crypto market dips ahead of international stock markets reopening on Monday. The ratio of BTC’s price compared to ETH has also fallen to a five-year low.