#CryptoTariffDrop (April 9, 2025): A significant cryptocurrency market downturn triggered by the former President's announcement of widespread tariffs, including a 104% tariff on Chinese goods.

Key Points:

* Large Crypto Market Drop: Total market cap fell ~30% from its December 2024 peak.

* Bitcoin & Ethereum Plummet: Bitcoin dropped ~6.8% (near $75k), Ethereum ~25% (erasing post-election gains). Altcoins also saw significant losses.

* Reasons for Crypto Reaction: 24/7 trading, high leverage, increasing correlation with traditional markets, and risk-off sentiment.

* Global Trade Impact: Expected increased costs, potential trade wars/retaliation, supply chain disruptions, and risks of economic slowdown.

* Potential Long-Term Crypto Implications: Some analysts suggest potential as a hedge against currency debasement and a safe haven asset in the long run.

In essence, the announcement of major tariffs caused immediate fear and selling pressure in the volatile cryptocurrency market due to anticipated global economic uncertainty.