Tariff Turbulence Hits Crypto: Volatility Masks Potential Gains
As President Donald Trump’s latest tariff announcements sent shock waves through global markets, the cryptocurrency sector found itself caught in the crossfire, raising questions about the long-term implications for crypto and blockchain.
The immediate reaction in the crypto market was one of volatility. Bitcoin fell as much as 5% from its recent highs to trade around $82,000. Ethereum and other major cryptocurrencies also suffered losses, with Ethereum dropping below $1,800. This volatility led to liquidations in crypto futures totaling over $450 million in the past 24 hours. The sell-off reflects a broader risk-off sentiment, as investors retreated from volatile assets in favor of traditional safe havens like gold.
