Bloomberg: After Trump announced his tariff policy, the cryptocurrency market was hit hard

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Bitget2025/02/03 01:07

According to the latest report, after Trump announced the imposition of tariffs, the cryptocurrency market was severely impacted. Specifically, BTC fell 4.3% in trading last Sunday, ETH fell 8%, and the sell-off of counterfeit products was more intense, with DOGE falling by about 14%. Counterfeit products such as XRP, ADA, AVAX, and LINK all fell by more than 10%.

Caroline Bowler, CEO of BTC Markets, said: Trump's tariff policies are affecting the entire market, and concerns about a recession caused by trade wars and stagflation are spreading to counterfeit products and the Bitcoin market.

According to a US official, Trump's 25% tariffs on goods from Canada and Mexico and 10% tariffs on Chinese goods will trigger a new round of trade wars.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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