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Crypto Prices Today: Trump Tariffs Spark Volatility, Bitcoin Falls Due to Uncertainty
The cryptocurrency market has been in a state of turmoil today, with Bitcoin (BTC) experiencing a significant decline amidst ongoing tensions between the US and China. The sudden drop in price is attributed to uncertainty surrounding President Donald Trump’s proposed tariffs on Chinese goods.
Ethereum (ETH) has also been impacted by this volatility, plummeting 15% in the past 24 hours. This drastic fall marks a new low for ETH since November 2023. Market analysts attribute this downturn to an unprecedented wave of liquidations across various exchanges.
The ongoing trade war between the US and China has sparked panic among investors, leading to widespread selling pressure on most cryptocurrencies. It is essential to note that institutional demand remains weak, further exacerbating the bearish trend.
As a result of these market conditions, Bitcoin (BTC) has seen its value plummet, reaching levels not witnessed since November 2023. With over $165 million in long positions liquidated, it appears ETH is poised for continued downward pressure.
This sudden downturn has caused widespread concern among cryptocurrency enthusiasts and investors alike. Coinpedia will continue to monitor the situation closely and provide updates as new information becomes available.
For more on this topic, check out our previous articles Why Is Crypto Market Down Today?
