Some of the most valuable cryptocurrencies have fallen by 10% or more from the fear that a trade war driven by President Donald Trump’s rates on large trading partners will have a negative influence on the risk activa.
Bitcoin is now traded for $ 96,879, more than 5% in the day and 8% in the past week but any other coin in the top 10, excluding dollar-pegged stablecoins, has become much more difficult.
For example, Ethereum fell by 10% to $ 2,940, while XRP has fallen 15% to $ 2,54 in the last day. The native token of Solana, the chain that Trump’s own meme -mint, has fallen below $ 200 with a dive of almost 12%, while the original meme coin dogecoin feels the pain with a daily crash from 16% to less than $ 0.27.
Crypto prizes were already depressed after the Trump team revealed rates against Canada, Mexico and China on Friday and fell further on Saturday when those orders were signed.
Now that Canada and Mexico have unveiled retribution plans, prices are dramatic in the midst of expectations that the rates will influence consumers across the board and possibly reduce the interest in investing in risk provisions such as cryptocurrencies.
On Saturday, Trump wrote on his social media platform Truth Social that “pain” could come for Americans.
“This will be the Golden Age of America!” Trump wrote in all-caps. “Will there be some pain? Yes, maybe (and maybe not!). But we will make America great again, and it will all be worth the price that has to be paid.”
Liquidations of crypto -future positions have had $ 900 million on the market in the last 24 hours, per data from Coinglass, led by Bitcoin with $ 180 million in liquidations.
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