In recent trading sessions, the crypto market is in the red zone. Political issues in the U.S. are raising investor concerns.
State of the Crypto Market
The crypto market capitalization is currently $2.63 trillion, an 8.15% decrease from previous levels. This capitalization is below the 20-, 50-, 100-, and 200-day exponential moving averages, while trading volume has hit $160.25 billion. Donald Trump's recent microeconomic and tariff decisions are under scrutiny, affecting market performance.
Asian Sellers' Favorite Cryptocurrencies
Asian investors have been actively selling Bitcoin and Ethereum in recent days, as Trump's administration has yet to clarify its stance on cryptocurrencies. Bitcoin's price fell to $78,344 for the month, and the BTC/USDT pair is drawing attention on exchanges such as Binance and Coinbase. Ethereum fell to $2,101, potentially leading to further declines.
Factors for Crypto Market Recovery
The unclear regulations and status of cryptocurrencies across most countries negatively impact the crypto market's development. Despite expectations, Trump's victory did not simplify conditions for the market. Hacking incidents, like the one at Bybit, cause investor distrust and complicate recovery efforts.
The negative trends in the crypto market need clear approaches from world leaders for regulation and digital asset protection. Without this, trust in cryptocurrencies will continue to decline.
