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Trump’s New Tariff Announcement Could be the Reason Behind the $110 Billion Crypto Market Dump
The crypto market has just witnessed a brutal crash with over $110 billion being wiped out in just 24 hours. The cause of this massive dump is still unknown, but one major reason that could be behind this drastic change is President Donald Trump’s recent tariff announcement.
On February 25th, Trump announced that he would be imposing a 25% tariff on all imports and exports between Canada and Mexico. This sudden policy shift has sent shockwaves throughout the global financial markets, leading to widespread panic selling in the crypto space.
The president stated that this decision will make America “extremely liquid and rich again.” However, it appears that his actions have had a devastating impact on the cryptocurrency market.
As we can see from the post above, many users are attributing Trump’s tariff announcement as the main reason behind the $110 billion dump. Some are skeptical of this claim, saying that it is unfair to blame one event for such a massive loss in value.
However, the data suggests otherwise. Since the announcement, FUD (fear, uncertainty and doubt) sentiment has taken over the crypto market, with many users expressing fear and anxiety about the potential impact of these tariffs on global trade and economic trends.
The Crypto and Bitcoin Fear & Greed Index now displays Extreme Fear and Fear sentiments, indicating a significant shift in market psychology.
In light of this, it is possible that Trump’s announcement has indeed sparked this sentiment, leading to the massive sell-off we are witnessing today.
