US tariffs imposed by President Trump have sent shockwaves through the cryptocurrency market, causing significant price drops for Bitcoin, XRP, and Ethereum. The tariffs, which target imports from countries like China, India, and Mexico, were seen as a major threat to the global supply chain.
The impact on cryptos was immediate, with prices plummeting in response to the trade tensions. Analysts point to the tariffs as a contributing factor to the downturn, citing the potential disruption to global trade and the subsequent decrease in demand for cryptocurrencies.
As tensions between the US and its trading partners continue to escalate, investors are left wondering how long the price drops will last. One thing is clear: the US tariffs have dealt a significant blow to the cryptocurrency market.
Source: https://www.barrons.com/articles/bitcoin-xrp-ether-trump-tariffs-crypto-56eb7bf3