The crypto market has taken a significant hit due to several key factors. Initially, Trump's crypto reserve announcement sparked excitement, but doubts soon crept in about its feasibility. Global economic uncertainty, particularly the new U.S. tariffs on trade partners, made investors nervous and sparked a wave of uncertainty.
The lack of clear regulations and laws to protect or encourage crypto investments added to the uncertainty, leaving people unsure about the future. As prices spiked, many investors sold off to lock in profits, leading to a sharp decline. The downturn in traditional markets also had a ripple effect, dragging the crypto market down with it.
These factors combined to create a perfect storm that led to a significant downturn in the crypto market. As always, it's essential to stay updated and invest wisely, keeping in mind the volatile nature of the crypto market.$BTC