US EditionBTC, ETH, XRP News: Trump Tariffs Cause $450M Liquidations on Bitcoin, Ripple, Ether
- Cryptocurrencies, including Bitcoin, experienced downward pressure on Thursday following new tariff announcements.
- President Trump's unveiling of new tariffs on major trading partners triggered investor anxieties about a potential trade war.
- Ether fell 7%, Solana dropped 13% , and shares of Coinbase and MicroStrategy each declined more than 7%.
- John Wu stated that, "As a risk-on asset, cryptocurrencies have generally traded poorly during periods of uncertainty following announcements such as steady high rates or the introduction of trade tariffs."
- The tariffs introduce near-term volatility and downside pressure, potentially impacting Bitcoin miners' profitability and acting as a double-edged sword.
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Trump's Tariffs Are Brutalizing the Crypto Industry
Donald Trump's sweeping global tariffs have scythed through all sectors of the economy — including crypto, a market that the sitting president was hailed as a champion of. On Thursday, the morning after Trump signed an executive order enacting his "Liberation Day" tariffs, blockchain assets across the board slumped considerably as a mass sell-off ensued. Bitcoin, the first and largest cryptocurrency, fell by 4.2 percent down to about $82,200, a…
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Leaning Left3Leaning Right2Center4Last UpdatedBias Distribution44% Center
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R 22%
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