Bitcoin under pressure: hacker attack and Trump's promises weigh on the market!

Bitcoin under pressure: hacker attack and Trump's promises weigh on the market!

The Bitcoin market is under pressure! On Tuesday, the price of the leading cryptocurrency on the Bitstamp trading platform fell below the $ 90,000 mark, marking the lowest level since mid-November 2024. During a one-off drop, Bitcoin was temporarily trading at around $89,700 or 85,706 euros, which experts say is linked to a hacker attack on the Bybit crypto exchange. This incident has triggered selling pressure across the crypto market, which has also severely affected Ethereum and other major cryptocurrencies such as XRP, Solana and Dogecoin, as well oe24 reports.

The latest decline follows a year marked by significant events for Bitcoin, including the initial approval of Bitcoin spot ETFs in the US and the so-called “halving,” which halved the mining reward from 6.25 to 3,125 BTC. These developments have raised hopes for a high-demand regulatory environment under the new presidency of Donald Trump. Trump himself promised during the election campaign to make the USA the “crypto capital” and to create a positive regulatory climate for cryptocurrencies Capital.com.

Hopes and risks in the crypto world

While Trump's 2024 election victory initially boosted the market, analysts point out that his protectionist approach also poses risks. In particular, the desired lower interest rates could influence the attractiveness of risky investments such as Bitcoin. Timo Emden from Emden Research states: “For investors, Donald Trump remains both a blessing and a curse.” His promises could prove to be a strategic move to win voters. But the greatest hopes directed at the new US government could quickly be dampened by reality shocks.

In addition, inflation induced by Trump's policies and market volatility are seen as significant challenges. The Bitcoin market therefore remains tense, while investors should closely monitor the former president's next moves.