Why Is Crypto Down: Bitcoin (BTC) Down 10%, ETH, XRP, SOL in Freefall on Trump Tariff – CoinDesk

The cryptocurrency market is in tumult, and foremost among the losers is Bitcoin, which has seen a drastic 10% slump. Alongside it, Ethereum (ETH), Ripple (XRP), and Solana (SOL) have been caught in a freefall, all at the mercy of tariffs instituted by the Trump administration.

Few things can unsettle the market like uncertainty, and the decision by the Trump administration to levy tariffs on crypto has introduced it in abundance. Given cryptocurrencies’ decentralized nature, they have been traditionally immune to such inferences.

However, the tariff maneuver seems to have disrupted this status quo. The direct impact of these tariffs on transaction costs has led a wave of panic selling that the market is now grappling with.

While it is usual for the market to experience volatility, the specific targeting of cryptocurrencies with new tariffs marks an unprecedented development. This is reflective in the widespread downturn across most major cryptocurrencies.

Investors and traders are in unexplored territory, and the road to recovery will likely be one of adaptation and strategic adjustment to this new landscape. The bottom line? Uncertainty reigns, and the crypto world watches and waits. Read More