Bitcoin prices were less than $ 100,000 after the US President Donald Trump imposed a new tariff on a new trade partner. Investors responded quickly to the news, and the cryptocurrency market saw considerable volatility. On Monday morning in Asia, Bitcoin fell by nearly 7 %, reaching a three -week low of $ 93,543. On the other hand, ETH EREUM (ETH) has decreased by 18 % since yesterday and returned to the price level that is not seen in early November. Sudden decline has reached the period of anxiety of the cryptocurrency sector, which is becoming more and more sensitive to a wider range of economic changes.
Trump’s decision to impose 25 % of tariffs on imports from Mexico and most Canada products, and 10 % of China’s imports on Tuesday. This development rattled the global market, causing a brought back of dangerous assets, including cryptocurrencies. Since the cryptocurrency is traded 24 hours a day, the price has been quickly adjusted according to the economic uncertainty due to the price.
Cryptocurrency reacts to economic uncertainty
The cryptocurrency market response to Trump’s tariffs emphasizes sector sensitivity to global economic events. According to market analysts, tariffs can have a wide range of meanings. They can contribute to inflation pressure and higher interest rates, prevent investors from risk assets such as Crypto.
CHRIS Weston, a pepperstone researcher, emphasized how the cryptocurrency became “risk proxy” at the time of market uncertainty. He explained, “Crypto is the only way to express the risk on the weekend, and in such news, Crypto rely on risk proxy.” Weston’s comment emphasizes the rising role of digital currency as a barometer for a wider range of market emotions, especially during the volatile period.
Bitcoin, Ethereum, and Solana prices will decrease
In particular, the price of bitcoin was huge, dropping to $ 93,543.49 ($ 153,700), reducing 4.8 % within the past 24 hours. According to COINGECKO data, BTC decreased by 4.6 % compared to the 7 -day values. The global cryptocurrency market felt that the major digital currency was on tariff arrows following the Bitcoin lead.
MNA/