Crypto Market Plunges Nearly 6% as Trump’s Tariffs and Fed Policy Shake Investor Confidence
The global crypto market took a sharp downturn on August 1, dropping nearly 6% in 24 hours, as investor sentiment soured amid escalating U.S.–China trade tensions and uncertain Federal Reserve policy.
The sell-off wiped billions from crypto valuations, with Bitcoin falling to $114,322 and over $577 million in long positions liquidated, according to CoinGlass data.
Trump’s Tariffs Spark Crypto Panic
President Donald Trump’s announcement of aggressive new tariffs, ranging from 10% to 50% on imports from over 60 countries, stunned global markets.
Canada was hit with a steep 35% rate, while Southeast Asian countries like Laos and Myanmar saw 40% tariffs, stoking fears of a broader trade war. Investors rushed to reduce exposure to…
