Bitcoin dropped below the closely watched $80,000 level on Sunday evening, tracking U.S. stock index futures sharply lower amid intensifying worries about the impact of tariffs. Monitor these key chart levels.

Bitcoin has fallen 29% since reaching an all-time high of $109,026 on Trump’s Inauguration Day in January, and the token has nearly erased all of its gains since the day after Election Day, when bitcoin eclipsed $75,500.

Cryptocurrencies wiped out almost all their gains since Donald Trump’s election win in early November as fallout from the US president’s tariff onslaught sparked heavy selling in an asset class he’s vowed to champion.

Binance Research said Bitcoin is showing “signs of resilience" amid a global market selloff after President Donald Trump last week announced steep tariffs on US imports.

Currently, quantum computing poses little threat to Bitcoin due to its infancy. Today's most advanced quantum machines have far less than the estimated millions of qubits required to break Bitcoin’s encryption in a day. Experts believe useful quantum computers remain decades away.