Bloomberg: After Trump announced his tariff policy, the cryptocurrency market was hit hard

According to the latest report, after Trump announced the imposition of tariffs, the cryptocurrency market was severely impacted. Specifically, BTC fell 4.3% in trading last Sunday, ETH fell 8%, and the sell-off of counterfeit products was more intense, with DOGE falling by about 14%. Counterfeit products such as XRP, ADA, AVAX, and LINK all fell by more than 10%.

 

Caroline Bowler, CEO of BTC Markets, said: Trump's tariff policies are affecting the entire market, and concerns about a recession caused by trade wars and stagflation are spreading to counterfeit products and the Bitcoin market.

 

According to a US official, Trump's 25% tariffs on goods from Canada and Mexico and 10% tariffs on Chinese goods will trigger a new round of trade wars.