Crypto Market Faces $2 Billion Selloff After Trump’s New Taxes
The cryptocurrency market is facing a significant $2 billion selloff, triggered by President Donald Trump’s announcement of new import taxes for Canada, Mexico, and China. Bitcoin (BTC) saw a 7.5% drop to $91,969. Other cryptocurrencies also suffered steep losses, with Ether (ETH) falling 20.1% to $2,510, while XRP and Dogecoin saw declines of 28.2% and 26.9%, respectively. 
Despite the current volatility, analysts maintain a bullish outlook for Bitcoin in 2025. Projections indicate that BTC could reach values between $150,000 and $200,000 over the course of the year, driven by the Trump administration’s pro-crypto policies and increased institutional adoption. 
However, it is important to note that the cryptocurrency market is highly volatile and influenced by various economic and political factors. Investors should remain aware of market conditions and consider the associated risks before making investment decisions.
