#TrumpTariffs

📉 Impact of Tariffs on the Cryptocurrency Market

In April 2025, Trump announced a 25% tariff on imports from Canada and Mexico and a 10% tariff on Chinese imports, causing turmoil in global markets. The cryptocurrency market was no exception, as the market capitalization of cryptocurrencies dropped by $230 billion in a single day, with the price of Bitcoin falling to $82,400, a decline of 11% from its previous peak.

This sharp decline prompted many traders to liquidate their positions, leading to significant liquidations amounting to $2 billion, especially in coins like Ethereum, Cardano, and Solana.