Bitcoin fell 6.5%, while other assets fell more than 20%. Analysts fear that the stock market could follow suit.
As of 08:24 Moscow time, Bitcoin lost 6.5% of its value and reached $93,000. At one point, the price dropped to $92,000. Ethereum fell by 20% in a day, to $2,475, and at one point fell to $2,326.
Negative changes have also affected other cryptocurrencies. Thus, XRP lost 22.7% of its value, dropping to $2.24, Solana decreased by 7.2% to $195.5, BNB lost 14.77%, reaching $558. Dogecoin fell by 23.65%, amounting to $0.2, and Trump's token lost 15.7%, stopping at $17.67.
There are also coins that have risen. For example #QWRX
The main reason for the market crash was the tariffs that U.S. President Donald Trump imposed on goods from China, Canada, and Mexico. Investors are concerned about the possible negative consequences of tariffs for economic growth, corporate revenues, and potential inflation in the U.S.
According to CoinGlass data, the volume of cryptocurrency liquidations exceeded $2.1 billion, Decrypt reports. The publication also emphasizes that the cryptocurrency market reacted first to the introduction of tariffs, and now investors fear a stock market crash.
Moreover, investors are disappointed by the lack of measures to stimulate the cryptocurrency market and the easing of regulations by Trump.
