Why is Crypto Going Down? Explaining the BTC, ETH, SOL, ADA Crash
Why crypto is going down or crashing was trending on Thursday as Bitcoin (BTC) and altcoins like Ethereum (ETH), Solana (SOL), and Cardano (ADA) sunk. Bitcoin dropped to $82,000 and the market cap of all crypto coins fell by over 4% to $2.65 trillion.
Crashing Crypto Fear and Greed Index
The main reason why Bitcoin and other altcoins plunged is that the financial market embraced a risk-off sentiment following Donald Trump’s decision to start the biggest trade war in over nine decades. He added double-digit tariffs on goods from countries such as China and the European Union.
This black swan event could trigger a recession or even a great depression as consumer spending slows. Indeed, recent…
