
MINE.exchange NEWS
February 3, 2025 at 11:55 AM
💬😱 Trump's Trade War Crashes Bitcoin: What’s Happening in the Market?
On February 2, Bitcoin dropped below $100,000 after Donald Trump imposed new import tariffs: 25% on goods from Canada and Mexico, and 10% on Chinese imports. This triggered liquidations totaling $540 million, with $482 million in long positions. Major altcoins also took a hit: Ethereum lost 6.6%, Solana plunged 17.5%, and Dogecoin fell 14.1%. 📊
Retaliatory measures followed quickly: Canada announced 25% tariffs on U.S. goods, China is preparing a complaint with the World Trade Organization, and Mexico is working on a "Plan B" with additional restrictions. Experts fear that this could escalate economic tensions further and trigger another wave of market corrections. 🌍
Analysts are divided on how these tariffs will affect the crypto industry. Some see the situation as stable, pointing out that institutional investors continue accumulating assets, while others warn that Bitcoin remains highly correlated with traditional markets, making it vulnerable to economic instability. As investors closely watch developments, the market remains in a state of high uncertainty. ⚠️
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