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Trump’s tariff sends Bitcoin and the encryption market

After President Donald Trump targeted China, Mexico and Canada, import taxes have long been threatened, the encryption market decreased on the first of February in taking measures. Bitcoin price decreased by 5 %, making its way to Altcoins.

As of February 1, the United States will do duty 25 % tariffs on imports from Canada and Mexico and 10 % on Chinese goods, adding more sophistication to the current commercial wars.

As a result, during the past 24 hours that ends on February 3, Bitcoin (BTCIt witnessed a noticeable decrease amid a market -level sale. The cryptocurrency decreased by more than 5 %, reaching less than 91200 dollars before recovery to about 94,000 dollars until this writing.

Despite this recovery, BTC remains approximately 13 % lower than its highest level ever at $ 109,000, and the trading volume increased by more than 200 %, indicating an increase in sales pressure or panic in the market.

In addition, the ceiling of the Global Crypto Global Market fell about 12 % during the same period, as it settled by about 3.15 trillion dollars.

It should be noted that after the inauguration of President Donald Trump on January 20, Bitcoin and other heroes witnessed a significant increase in prices. However, since this peak, recent developments – including new tariff policies – have contributed to a severe decrease in market morale and asset values.

Given the collapse of the last bitcoin price, it had a successive effect on altcoins. In the past 24 hours, ethereum (EthIt decreased by nearly 20 %, ripples (Xrp(22 %, Solana (Teller) 8 %, and the Bennes currency (BNB) By more than 15 %.

The long -term SOP chart of Bitcoin along with its price from January 1 to February 2, 2025. SOPR shows a downward trend associated with the low price of Bitcoin to 93.5 thousand dollars, highlighting the pressure pressure between long -term holders.
The long -term Bitcoin holder: a link between the low price of SOPR and Bitcoin, which reflects the volatility of the market and the long -term behavior of the holder. Source: Cryptoquant by Crypto.News

High trading volume, in addition to low prices, often indicates strong pressure for sale or panic in the market, as more traders download their assets. This style indicates that in the long run investors sell their coins with lower profits than the purchase price-or even in losing a year to the date-as it becomes clear from Bitcoin: Holder Holder Sopr.

This behavior often refers to surrender between long -term holders, which is a common phenomenon during the trends of the Hubudian market and corrections. Experts, including the CEO of Bitmex Arthur Hayes, have warned that the “financial crisis” may be on the horizon.



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2025-02-03 06:57:00

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