Crypto Markets Tumble Amid Trade Tensions
Cryptocurrencies experienced a sharp decline as risk assets broadly weakened and demand for safe-haven assets increased. This downturn followed US President Donald Trump’s proposal of new tariffs on eight European countries, creating increased uncertainty in global markets.
Bitcoin, the leading cryptocurrency, fell by as much as 3.6 per cent, dropping below $US92,000 during Monday’s Asian trading hours. Other digital tokens faced even more substantial losses, with Ether, the second-largest digital asset, losing 4.9 per cent of its value, and Solana plummeting by 8.6 per cent. This selloff resulted in approximately $US100 billion being wiped off the total value of the cryptocurrency market, according to data from…
