$ETH Cryptocurrencies have sharply declined, losing most of the gains they made since Donald Trump's victory in the US presidential elections last November. The value of Bitcoin dropped to below $75,000 for the first time since November 7, recording a decline of 5.3% before recovering slightly. The total market value of cryptocurrencies also fell by 11%, reaching $2.5 trillion, the same level it was at when Trump won.

This decline comes at a time when pressures have increased due to Trump's escalation of tariffs.