Bitcoin reels below $90,000

Bitcoin hit its lowest in over three months on Tuesday, as nerves in markets over US tariffs reinforced the blow to crypto investor confidence from last week's $1.5 billion hack of ether from the Bybit exchange. Bitcoin, the world's largest cryptocurrency by market value, broke below $90,000 to its lowest since November 18, falling by as much as 7.5% at one point. It was last down 5% on the day at $89,314. Global investors have been jittery of late on signs the so-called exceptionalism of the US economy might be fading, while President Donald Trump prepares to impose tariffs. Trump indicated on Monday his plans to slap a 25% levy on imports from Canada and Mexico from early March remain on schedule, and in a sign of the unease, safe-haven US Treasury prices have rallied sharply, sending yields to two-month lows. "The macroeconomic situation has been the main reason for the price decline in the last few hours," said Marcel Heinrichsmeier, crypto assets analyst at DZ Bank.