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Crypto Market Loses Momentum Amid Trump's Liberation Day News

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by Giorgi Kostiuk

3 days ago

The crypto market continues to decline due to rising US inflation and anticipation of Donald Trump's Liberation Day.

Bitcoin Crash and Altcoin Decline

Bitcoin fell below $84,000, down more than 5.5% from its peak this week. Most altcoins also saw declines, including Polygon, JasmyCoin, Bonk, and Injective, falling by more than 10%.

Reasons for Market Decline

The main cause of the crypto market crash was a report by the Bureau of Economic Analysis, which showed US inflation rose in February. This increased the odds of a more hawkish Federal Reserve policy this year.

DOGE's Update and Impact on SEC

Elon Musk's Department of Government Efficiency team arrived at the SEC. Musk aims to reform and save federal resources. Their arrival at the SEC comes amid an investigation into dozens of spot crypto ETF filings.

The crypto market remains under pressure from economic news and policy changes. It is expected to stabilize with upcoming changes in SEC activities and the macroeconomic environment.

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