🗞️Crypto Market Volatile as Trump's New Tax Measures Spark Risk-Off Sentiment
📰Summary:
The cryptocurrency market declined on Friday following President Donald Trump’s announcement of new tax measures, sparking concerns about rising inflation and the Federal Reserve’s ability to lower interest rates. Bitcoin dropped 3%, while Ethereum and Solana fell 6% and 5% respectively. The downturn triggered significant liquidations, with Bitcoin seeing $228 million and Ethereum $262 million in liquidations. Crypto-related stocks were also affected — Coinbase shares plummeted 16% after a disappointing Q2 earnings report.
Source: CNBC
