- Trump’s tariff announcement wiped $490M from crypto as Bitcoin and Ethereum prices plunged sharply.
- Fear overtook sentiment while correlated stock sell-offs deepened crypto’s downward momentum.
The cryptocurrency market saw intense volatility in the past 24 hours, sparked by U.S. President Donald Trump’s sweeping new tariffs.
These included a minimum 10% duty on all imports, with higher rates for key partners like China (34%), Japan (24%), and the European Union (20%).
As the news broke, both traditional and digital markets reacted quickly. Bitcoin [BTC ($87,754.00)] dropped from $88,500 to $83,500, while Ethereum [ETH ($2,945.77)] fell from $1,934 to under $1,800 at the time of writing.
Moreover, the total crypto market cap slipped by 2%, settling near $2.68 trillion. This drop occurred during the mid-Eastern trading session on the 3rd of April.
Such a sharp reaction underlines how sensitive crypto remains to global macroeconomic shocks. Therefore, these tariffs didn’t just disrupt global trade—they caused a direct hit to digital assets.
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