03.04.2025 09:21
U.S. President Donald Trump announced that starting tomorrow, the U.S. will impose reciprocal tariffs on other countries, with a basic tariff rate of 10%. Following this announcement, the cryptocurrency world experienced significant volatility once again. Bitcoin, which was approaching $88,000, fell to as low as $83,000.
US President Donald Trump announced the long-awaited new customs tariff decision. Trump signed the decree foreseeing the application of reciprocal tariffs against other countries at an event held at the White House.
BITCOIN DROPPED TO 83 THOUSAND DOLLARS
The signing caused a seismic effect in the markets. Investors experienced significant anxiety. As this anxiety turned into trading movements, sharp directional shifts occurred in the markets, leading to major fluctuations in the values of cryptocurrencies. While all types of cryptocurrencies experienced significant declines, the crypto giant Bitcoin, which approached 88 thousand dollars, dropped to as low as 83 thousand dollars. Shares of Strategy (MSTR) (formerly known as MicroStrategy), known for its large Bitcoin investments, fell by about 7%. Shares of the popular cryptocurrency exchange Coinbase (COIN) lost 6% in value. The investment platform Robinhood (HOOD), which also allows cryptocurrency trading, experienced a 9% drop. Experts stated that the sharp decline in the crypto market is the most evident indicator of the uncertainty in the markets.
RISKY ENVIRONMENT AFFECTED ALL MARKETS
Trump's new tax tariff was not only aimed at enemy and hostile countries. In addition to China, European Union countries also faced high tax rates. As risk appetite decreased in global markets, investors turned to safe havens. The price of gold per ounce rose to 3167 dollars, setting another record. Although the financial damage caused by this market crash has not been fully calculated, it is reported to have resulted in billions of dollars in losses.