Bloomberg: Crypto market hit hard after Trump announces tariff policy

2025-02-03 08:47:11

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According to Bloomberg, the cryptocurrency market has been severely impacted following Trump's announcement of new tariffs. Specifically, BTC fell by 4.3% in trading last Sunday, ETH dropped by 8%, and the sell-off of altcoins was even more intense, with DOGE declining by around 14%, while altcoins like XRP, ADA, AVAX, and LINK all fell by more than 10%.

Caroline Bowler, CEO of BTC Markets, stated: Trump's tariff policy is affecting the entire market, and concerns about a recession triggered by the trade war and stagflation are spreading to the altcoin and Bitcoin markets.

According to a U.S. official, Trump is imposing a 25% tariff on goods from Canada and Mexico, and a 10% tariff on Chinese goods, which will trigger a new round of trade wars.

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