Trump crashes the market with sharp measures

On February 3, the crypto market experienced an unprecedented liquidation triggered by statements from U.S. President Donald Trump about imposing aggressive tariffs on imported goods. As a result, market capitalization shrank by 11.7%, dropping to $3.16 trillion.

New trade barriers and their consequences

The U.S. government announced additional 25% tariffs on imports from Canada and Mexico, along with a 10% tariff on Chinese goods. Moreover, Trump indicated that similar measures could be applied to EU countries, escalating economic tensions and affecting global markets.

Bitcoin at Its lowest

The flagship of the cryptocurrency market – BTC – reacted with a sharp drop, reaching a local low of $91,281. However, at the time of writing, its price had partially recovered to $94,500, with a market capitalization of $1.87 trillion.