In early April, cryptocurrency traders were wondering just how far the price of bitcoin could fall after US President Donald Trump’s so-called “liberation day” tariffs injected mayhem into global financial markets.

The exodus from risk assets such as equities and cryptocurrencies sent bitcoin tumbling to near $US74,000 – a 32 per cent slump from its record high of $US109,356 around the time of Trump’s inauguration on January 20.

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