Bitcoin Plummets as Legal Battles Intensify

Bitcoin $105,619 price is on the verge of dropping below $85,000 as a tumultuous week continues. Trump escalates the global trade war, urging China and the EU to retaliate. As altcoins present a dire outlook, Bitcoin has begun accelerating its decline toward the $82,000 mark.

U.S. Justice Department and Cryptocurrency Decline

Bitcoin price has independently fallen below $84,200 following the latest announcement from the Justice Department, and losses persist. The nightmare continues for altcoins as concerns grow over Trump’s inflationary measures that could lead to further interest rate hikes. It has become nearly impossible to keep pace with the speed of the price drops, as Bitcoin consistently hits new lows every hour.

What is the U.S. Justice Department’s announcement about? Aleksei Andriunin, founder of a cryptocurrency financial services firm called Gotbit, has been extradited from Portugal to the United States, and this information is being disclosed.

“Andriunin is accused of market manipulation for creating artificial trading volume on behalf of cryptocurrency companies as CEO of Gotbit from 2018 to 2024. Some of these companies are based in the U.S. Charges against him include conspiracy to commit electronic fraud and market manipulation.” – Justice Department

Over $25 million in cryptocurrency linked to the Russian national, who will face a 25-year prison sentence, has been seized.