Bitcoin collapsed after Trump's tariffs were introduced
Kyiv • UNN
Bitcoin fell by 8% due to Trump's tariffs, losing almost all profits after the election. Ethereum, XRP, and Solana also suffered significant losses, and global markets crashed.
Bitcoin fell by more than 8% compared to Monday last week. A "Black Monday" profile has appeared in global markets. UNN reports with reference to Cryptonaute and Ansa.
Details
Cryptocurrencies have lost almost all the profit made after Donald Trump's victory in the 2024 election, due to the tariffs introduced by the US president for almost all countries of the world.
After demonstrating remarkable resilience to the collapse that hit global markets last week amid Trump's tariffs, Bitcoin finally succumbed to panic on Sunday evening as the threat of "Black Monday" was announced in global markets.
According to Bloomberg, Bitcoin lost more than 7% in London overnight. Currently, at a rate of $76,800, BTC has registered a drop of more than 8% in 24 hours. Interestingly, other cryptocurrencies - Ethereum, XRP and Solana - have lost about 15% to date.
Ethereum crashed to $1,521, an intraday low not seen since October 2023.
Against this background, a rout continues in global markets. After the collapse at the end of last week, Asian stock markets opened sharply lower on Monday, with indexes such as Hong Kong's Hang Seng and Japan's Nikkei losing almost 10%.
Recall
Earlier, UNN reported that Bitcoin fell 11% to $82,300 after Trump announced the creation of a national cryptocurrency reserve. Ethereum, Solana and other cryptocurrencies also suffered significant losses amid new trade tariffs.
Global stock markets have fallen after Trump announced new tariffs. The most affected were shares of Nike, Apple, H&M and other companies that depend on imports.
