Crypto Market Tumbles as Trump’s Tariffs Return

Crypto Market- Crypto Dips Despite Stock Market Optimism

Crypto Market– The cryptocurrency market experienced significant declines following the reinstatement of tariffs by former U.S. President Donald Trump. The U.S. Court of Appeals for the Federal Circuit issued a temporary stay on a lower court’s ruling that had struck down the tariffs, allowing them to remain in place while the government appeals. These tariffs, announced on April 2 and dubbed “Liberation Day” duties by Trump, target nearly all U.S. trading partners and were imposed under the 1977 International Emergency Economic Powers Act.

Major Cryptocurrencies See Sharp Declines

In the past 24 hours, several major cryptocurrencies experienced significant price drops:

• Dogecoin (DOGE): Fell 9%, trading at $0.20483.
• Cardano (ADA): Dropped 6%, trading at $0.70902.
• Solana (SOL): Decreased 6%, trading at $163.75.
• Bitcoin (BTC): Slipped below $106,000, trading at $105,739.The Economic Times
• Ethereum (ETH): Lost the $2,700 mark, trading at $2,612.16.

Market sentiment appeared cautious, with the total crypto market capitalization flat at $3.42 trillion. Analysts suggest that cryptocurrencies are sensitive to macroeconomic events like trade tensions and tariff policies, which can lead to increased volatility in the market.

As the situation develops, investors are advised to stay informed about the ongoing legal proceedings and potential economic impacts resulting from the reinstated tariffs.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.