Bitcoin dropped below $90,000 as investors reacted to renewed Trump tariff threats and inflation worries, pushing gold to record highs and boosting demand for scarce assets.
Bitcoin plunged from $96,000 to under $90,000 alongside a surge in gold prices to record highs, driven by renewed tariff threats from former U.S. President Donald Trump and a weakening dollar. Inflation concerns ahead of key PCE data intensified stagflation fears, prompting investors to shift toward safe-haven and scarce assets such as gold and silver.