#TrumpTariffs Trump's tariffs have sparked concerns in the crypto market, triggering a sell-off and bearish trends. Here's what's happening ¹:

- *Market Reaction*: Bitcoin dropped from $88,500 to $83,000, while Ethereum fell 6% to $1,820. XRP also declined 5% after Trump's tariff announcement on over 100 countries.

- *Trader Sentiment*: CryptoQuant reports Bitcoin open interest dropped from 334K to 304K BTC, and ETH open interest fell by 100K ETH, indicating traders closed long positions to avoid losses.

- *BNB's Volatility*: Binance Coin (BNB) plunged 11.6% before recovering, with a descending channel forming amid significant selling pressure.

- *Expert Warning*: A former Binance executive warned that Trump's tariffs pose a significant threat to the global economy, potentially impacting the crypto market.