The cryptocurrency market faced sharp declines due to Donald Trump's tariff moves and new US employment data.
Impact of Trump's Tariffs on the Cryptocurrency Market
Recent tariff changes initiated by Donald Trump have had a significant influence on the cryptocurrency market, including Bitcoin and altcoins. This has added pressure to investors who are already dealing with market volatility.
Importance of US Employment Data
Employment data, released on the first Friday of each month, are crucial for investors. Expectations versus real statistics impact economic forecasts and, specifically, the Federal Reserve's interest rate decisions. The latest data showed 143,000 new jobs versus expected 169,000, with an unemployment rate of 4.0%.
Bitcoin's Reaction to the New Data
Following the employment data release, the market immediately reacted. Bitcoin, which previously reached the $91,000 level, shifted its positions. Investors closely watch the changes, expecting reactions from other market players and the FED.
Thus, the current situation in the cryptocurrency market is a consequence of both external political decisions and the internal economic dynamics of the US. In the coming weeks, investor attention will be focused on further data and their impact on the market.
