Breaking! Trump's Tariff Threat Triggers Huge Shock in the Crypto Circle
On October 21, according to Crypto Rover, a piece of news shocked the global financial market: U.S. President Donald Trump declared that if a trade agreement cannot be reached before November 1, China may face tariffs as high as 155%. This tough stance immediately triggered a chain reaction in the financial markets, and the cryptocurrency sector was no exception.
After the news broke, Bitcoin ($BTC ) and Ethereum ($ETH ) saw significant price drops. Investor panic quickly spread, leading many to sell off their crypto assets, resulting in a substantial market plunge.
In this wave of decline, many pointed fingers at Trump, with some even joking, "Trump, you are the God of Crypto! Your son must be shorting again," alluding to the subtle relationship between the Trump family and the crypto market. Previously, the world’s freedom finance company co-founded by Trump's three sons launched the cryptocurrency WLFI, gradually revealing the Trump family's business footprint in the crypto industry, which has led to many speculations about the connection between this tariff threat and the fluctuations in the crypto market.
Amidst the market turmoil, some investors began to look for new opportunities, with voices like "Why not pay attention to small puppies" emerging in the crypto community. "Small puppies" refer to some new and potentially promising crypto projects, but given the high uncertainty in the market, any investment is fraught with risks.
Trump's tariff threat has not only impacted the cryptocurrency market but has also affected global stock markets, commodity markets, and others to varying degrees. The tension in international trade relations has heightened investors' risk aversion, leaving the future direction of the entire financial market full of uncertainties. The subsequent development of the cryptocurrency market is worth continued attention.
