Trump’s Tariff Move Triggers $1 Billion Crypto Market Slide
The cryptocurrency market crashed at the end of Monday’s U.S. meeting, resulting in millions of liquidations as Bitcoin (BTC) stretched its legs. The crash occurred in connection with tariffs on Mexico and Canada by U.S. President Donald Trump, triggering a sell-off.
It marks the second example of presidential tariffs affecting crypto markets, highlighting Bitcoin’s growing response to macroeconomic events.
Bitcoin and crypto markets react to Trump’s tariffs
Trump said the United States “signed tariffs on time” in Canada and Mexico. According to Reuters, this is after the Inquisition to ask whether tariffs will be issued to Canadian and Mexican goods after the agreed deadline for suspension next week arrives. In response, Trump reportedly articulated his view that neighbors and allies abused the United States.
“We will reach an agreement with the tariffs in a timely manner and it seems to be developing rapidly… We are being abused by many countries, not just Canada and Mexico. We are being exploited,” Reuters Reportciting Trump’s citation at the White House.
After this report directly, the price of Bitcoin is below the $92,000 threshold. Similarly, the cryptocurrency market collapsed, with total market capitalization losing 7% of its value. Meanwhile, data on coatings show that the crash hit nearly $1 billion in total liquidation across the cryptocurrency industry.
“In the past 24 hours, 299,006 traders have been liquidated, with a total liquidation of $918.18 million,” Coinglass Indicated.
Coinglass data also suggest that as Bitcoin’s price drops to $91,514, most REKT positions constitute a desire. This is not the first time Trump tariffs Narratives influenced the cryptocurrency market.
In hindsight More than $2 billion was wiped out From the crypto market in early February, leading to historic liquidation activities. As Beincrypto reported, this incident was President Trump majestic 25% tariff on imports from Canada and Mexico.
The following is related Probation on Trump’s tariffsthe crypto market has recovered. Bitcoin’s Coinbase Premium After a pause three weeks ago, it soared to local highs after the pause. These events are related to the recent JPMorgan Chase Investigationshow tariffs and inflation It will be the biggest market impact in 2025.
Eddie Wen, head of digital markets at JPMorgan Chase, also cited market volatility in response to new headlines about Trump’s administration plans Quote “The knee reaction in the market.”
However, among these corrections, Michael Saylor, chairman of MicroStrategy (now Strategy), sees the recent crash as an opportunity Buy Bitcoin With discount. His latest speech, “Sales of Bitcoin,” coincides with those of Robert Kiyosaki.
As Beincrypto reports, the author of Rich Dod Dod Dad urges investors Buy BTC When the market collapses, it is called The main wealth building moment In the midst of global economic uncertainty.
Meanwhile, James, a popular crypto analyst on X, stressing that Trump has wiped out as much as $734 billion in cryptocurrency market since he began his second term on January 20.
“Trump has wiped out 20% of the cryptocurrency market since taking office. $734 billion,” James said. Write On X.
Bitcoin is trading at $92,047 as of this writing, down 3.4% since Tuesday’s meeting opened.
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