According to Bloomberg, BTC Markets CEO Caroline Bowler said: "Trump's tariff policies are affecting the entire market, and fears of a recession caused by trade wars and stagflation are spreading to the counterfeit products and bitcoin markets." BTC fell to around $97,000, its lowest level in more than two weeks.
Specifically, BTC fell 4.3% and ETH 8% in Sunday's trading, while the sell-off of counterfeit products was even more intense. Including DOGE, which fell around 14% during the trading session, is down 45% from the high point reached after Trump's victory spurred a digital asset rally on December 8 last year. Counterfeit products such as XRP, ADA, AVAX, and LINK all fell more than 10%.
Analyst: Crypto market hit by safe-haven measures after Trump announces tariffs
2025-02-03 00:43:20
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