Industry watchers are pessimistic that the market will recover anytime soon.
“There are no apparent near-term positive catalysts for crypto that would justify a decoupling from the grim macro situation,” Carlos Guzman, analyst at crypto-trading platform GSR, told DL News.
“Markets are likely to remain turbulent in the coming weeks and months as the tariff situation continues to develop, and so far it appears to be escalating into a full on trade war.”