Bitcoin plunges 12% after Trump’s tariff announcement mirroring stock market downturn
Bitcoin and the rest of the encryption market decreased to its lowest levels during the weekend, as the repercussions of president Trump Bitcoin decreased by 12 % since Trump announced a flood of tariffs on Wednesday, targeting imports from the list of countries including important American trading partners such as Vietnam, Japan and China. The world’s leading cryptocurrency has declined to less than 74,700 dollars in the past 24 hours, as it eliminated the gains of the previous elections.
The broader encryption market was also extracted through the process of selling customs tariffs, as investors choose less amazing investments or flee from the financial markets completely. While Bitcoin fell 4 % on Monday, other cryptocurrencies decreased with ETHEREM decreased by 10 %, XRP decreased by 9 % and Solana 7 %. In all, the encryption market has now wiped 9 % of the total number of the market since the Trump tariff was announced, as it decreased from $ 2.72 trillion to $ 2.47 trillion.
Traditional origins are not good either. The stock market collects a large shrinkage, both S&P 500 and Dow Jones decreased by 10 % over the past five days.
Trump’s tariff is expected to disrupt global supply chains, increase inflation and may lead to stagnation by making the price of foreign goods higher. Although some industrial leaders describe Bitcoin as a hedge of inflation, it is often seen by financial advisors and retailers as risky origins similar to shares and commodities. These investors have prompted themselves ready for economic consequences by emptying their encryption possessions to reduce the amount of risks in their governorates.
Thomas Bervio, global economist at Crypto Exchange Krakeen said luck. “This is not an exit from Crypto, but the re -calibration.”
The latest encryption of the decline is also far from the optimism that followed the election of Trump in 2024, after the elections for promoting the asset category. Bitkeen was crowned to the highest level ever at $ 109,000 in January. While Trump has handed over a number of his promises related to his encrypted campaign, the prices of digital assets have decreased since his inauguration, which is weighed by slow economy concerns and a possible commercial war.
“There is a lot of uncertainty at the present time, and as we see, the encryption is luck.
This story was originally shown on Fortune.com
2025-04-07 17:23:00
