Bitcoin dropped below $90,000 to its lowest since November 18 on Tuesday, as market nerves over U.S. tariffs reinforced the blow to crypto investor confidence from last week's $1.5 billion hack of ether from the Bybit exchange.

Bitcoin, BTC= 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.

After exchange operator loses ether from a cold wallet in a North Korea-linked attack, bitcoin and ether fall as industry enthusiasm wanes.

Chainalysis said the hackers are deliberately keeping the funds idle to avoid heightened scrutiny after the high-profile incident.

Cryptocurrency exchange Bybit said last week hackers had stolen digital tokens worth around $1.5 billion, in what researchers called the biggest crypto heist of all time.

Following the revelation Friday from cryptocurrency exchange firm Bybit that hackers stole digital tokens worth about $1.5 billion – in what may be the biggest crypto heist of all time – CEO Ben Zhou wrote on X Sunday that it has replenished its reserves. Bybit was able to do this through a mix of emergency loans and large deposits.