The digital assets world sure has a way of keeping us on our toes! Just when you think Bitcoin was ready to race past that coveted $90,000 sweet spot, President Trump’s recent declarations about hefty tariffs on foreign cars throw a wrench in the works. Talk about a plot twist! As the crypto market braces for the fallout, with Bitcoin’s growth hitting a bump in the road and major altcoins like Dogecoin and XRP not faring much better, one has to wonder: are we witnessing a crucial turning point in the crypto narrative or just another blip on the radar? Stay tuned as we delve into the intricate dance of tariffs, market corrections, and what it all means for our beloved cryptocurrencies.
Key Notes
- Bitcoin has seen its growth reversed following a new trade shift in the US.
- President Donald Trump said the US will impose a 25% tariff on cars not made in the USA.
- Top altcoins like Dogecoin and XRP saw bearish corrections along with major indices
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The digital asset market is under pressure as President Donald Trump threatens new tariffs on core trading partners globally. Drawing on the potential impact of the latest update, the market is edgy with macroeconomic implications for Bitcoin, and other top altcoins are now in the spotlight.
Bitcoin Holds as Markets Drop
Following the announcement that automobiles not produced in the United States will be slammed with heavy tariffs, the price of Bitcoin
BTC
$86 763
24h volatility:
1.2%
Market cap:
$1.72 T
Vol. 24h:
$23.59 B
saw its growth stagnate. The building trade tensions derailed its attempt to breach the $90,000 price mark.
As reported by Coinspeaker, the crypto market faced $2.23 billion in liquidations, with Bitcoin dropping 6.5% following President Trump’s earlier tariff announcement. A similar trend is mildly playing out.
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