Trump's tariff news ignites the cryptocurrency market, where do we go from here?
Folks, a bombshell news hit on Monday evening! Trump plans to impose tariffs on Mexico and Canada, and as soon as the news broke, the cryptocurrency market instantly 'shook'. In just four hours, 140 million dollars in long positions evaporated, and the total market capitalization of the cryptocurrency market plummeted over 6%, dropping below 3 trillion dollars, which is a terrifying decline!
Ethereum and Ripple both saw declines of over 10%, while SOL plummeted nearly 15% in a single day. As if that weren't enough, the aftermath of the 1.4 billion dollar Bybit exchange hacker theft incident is still fresh, and the market hasn't even recovered from that before suffering another blow—truly, when it rains, it pours.
This crash fully demonstrates the immense influence of news and uncertainty on the cryptocurrency market. In the new landscape of 2025, the cryptocurrency market is extremely volatile, and the key is to quickly enter and exit, locking in profits in a timely manner, otherwise, it's just a numbers game.
This round of decline clearly shows a downward trend, which is completely different from the previous brief fluctuations. The previous support level was at 90,000 points, which has now been breached, and there’s basically no support below; the bottom will need to fluctuate for a few days to confirm. Currently, it is also uncertain whether the decline will continue; the market trend is very weak, so everyone must not mistake a rebound for a reversal.
In this weak market environment, what we should do is to short at the rebound high points, rather than blindly go long at the low points. Many people think they have reached the bottom, but it could just be halfway up the mountain. The strategy this evening is still to short on rebounds, with a short-term reference to short below the key level of 90,000 points. There might be a correlation after the US stock market opens, so everyone be patient and wait!
#Infini遭攻击 $BTC
