Chaos of the encryption market as Trump causes half a trillion dollars to fall

The Cryptocurrency market has ended its worst day in a year and has fallen by about half a trillion dollars in 24 -hour space.

The collapse by US President Donald Trump announced that it announced new tariffs on Canada, Mexico and China at the weekend and increased the fear of the World Trade War.

The tariff affected stock markets throughout Europe, Asia and the United States, although some encrypted currencies were particularly beaten because the appetite of dangerous assets was significantly weakened.

Cryptography transactions are not limited to traditional business hours, meaning that investors were able to pour dangerous assets before the opening of markets on Monday.

Ethereum (ETH) and Ripple (XRP) both lost about one -third of their value at the weekend, while Solaana (SOL) declined by about a quarter.

Bitcoin (BTC) fell below $ 100,000 but was able to improve relatively well-more reinforced its claim as a safe and safe asset similar to “digital gold”.

The worst blow was the so -called MEME coins, including President Trump, who recently launched Trump coins, which dropped 70 percent from his peak.

The first dissolution of more than $ 2 billion this year has reached more than $ 2 billion, with Coinmarketcap’s fear and greed, which measures market emotions and fell into “fear” for the first time from October 2024.

“The tidal wave of fear, uncertainty and doubt in the cryptography market has been unveiled in the cryptography market,” said Pat Koskikov, founder and CEO of Crypto Platform Mercuryo. IndependentHuman

“This once again indicates a very speculative nature of the MEME signs and the many risks that they create for unconscious people,” Mr Kozikov said.

Crypto market analysts have pointed to the key support level of $ 92,000, which Bitcoin has so far been able to stay higher. If it is lower than this level, subsequent sales are expected.

Trump has pledged to be the first “President of encryption” and has already signed an executive order that is expected to be favorable to the cryptography industry.

The rise in Bitcoin’s price has been attributed to Trump’s entry into the White House, which recently reached a time of close to $ 110,000 on the day of the office.

One of the expected policies is to create a US bitcoin reserve.