Why is Bitcoin price down today?

BTC price weekly woes stretched to -18% after Trump announced additional tariffs on China, and spot Bitcoin ETF outflows continue.

Bitcoin’s (BTC) price continued its correction with another 7% decline on Feb. 28, taking the price below $80,000. BTC’s current weekly returns of -18.46% is its largest weekly drawdown since November 2022.

Bitcoin weekly chart. Source: Cointelegraph/TradingView

Bitcoin and the collective crypto market continued to react negatively to the development of US tariffs with nations such as China, Mexico, and Canada.

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