Following Trump administration's announcement of fresh tariffs, the crypto market experienced significant fluctuations, reflected in price changes of key crypto assets.
Impact on Bitcoin
Bitcoin (BTC) reacted swiftly to the tariff announcement, reaching $88,500 but soon dropping 6% to $82,200. At the time of writing, BTC price was around $83,300 with a 24-hour trading volume of $53.13 billion.
Reaction of Major Altcoins
Ethereum (ETH) surged to $1,941 before declining 8% to $1,785. Solana (SOL) spiked to $135, then fell back to $117, marking a 13% drop. At the time of publication, SOL was trading near $119, down 4% over the past 24 hours.
Impact on Global Market
Other major altcoins such as XRP, BNB, ADA, and TRX also faced significant losses, trading below previous daily highs. Although Trump did not mention cryptocurrency in his tariff speech, the market showed heightened volatility and was influenced by the global economic shifts.
Despite the temporary swings and uncertainty, analysts believe cryptocurrencies could continue to recover and potentially reach new highs in the future.
