#TrumpTariffs 📉 *#TrumpTariffs: Crypto Market Faces Turbulence Amid New Trade Policies*
The recent imposition of tariffs by President Trump on imports from Canada, Mexico, and China has sent shockwaves through the cryptocurrency market. Bitcoin's price plummeted below 100,000, reaching lows around91,000, marking a significant downturn from its previous highs. [1]
This sharp decline isn't isolated to Bitcoin alone. Ethereum experienced a drop of over 24%, while other major altcoins like XRP, Solana, and Dogecoin saw decreases ranging from 15% to 30%. [2] The broader crypto market capitalization shrank by approximately 8% in a single day.
Analysts attribute this volatility to heightened inflation fears and a shift in investor sentiment towards risk-averse assets. The tariffs are expected to increase consumer costs, potentially leading to reduced disposable income and lower investments in high-risk assets like cryptocurrencies. [3]
Furthermore, the crypto market witnessed over $2 billion in liquidations within 24 hours, highlighting the rapid and severe impact of macroeconomic policies on digital assets. . situation underscores the interconnectedness of global economic policies and the cryptocurrency market. As trade tensions escalate, investors are advised to stay informed and exercise caution in their investment strategies.
#CryptoNews #Bitcoin #Ethereum #TradeWar #MarketUpdate
