The cryptocurrency market has faced a sharp decline today. This article examines the events that contributed to it, including recession, market manipulations, and trade barriers.
NVIDIA's Record Losses
The first significant cause was the situation with Deepseek, resulting in NVIDIA's stocks plummeting by 17%, losing almost $600 billion in market value. While the effect on the crypto market was less significant, the AI sector suffered.
Market Manipulations in Crypto
Some centralized exchanges, like Binance and Coinbase, are accused of manipulating the market with market makers. Binance, in particular, was accused of transferring $100 million to Wintermute for artificially induced volatility and subsequently buying assets advantageously.
Trade War and Trump's Tariffs
President Trump announced new tariffs on goods from Canada, Mexico, and China, leading to a significant drop in market capitalization. These measures affect approximately 43% of all US imports and cause an increase in the cost of goods, including cars and phones.
These events indeed make it difficult to predict the future of the cryptocurrency market. However, many experts believe the current situation might just be a temporary dip before a new rise.
