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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
02/04/2025

Trump Triggers Trade War, Bitcoin Plunges to $91,255!

Markets in Turmoil Over New Tariffs On February 1st, former U.S. President Donald Trump signed an executive order imposing new import tariffs on three countries: * 🇨🇦 & 🇲🇽 Canada and Mexico: 25% tariff on industrial goods, 10% on energy * 🇨🇳 China: 10% tariff on imports The decision immediately sent shockwaves through financial markets as trading partners responded sharply. Canada retaliated with $12.6 billion in counter-tariffs, while Mexico imposed 15%–25% tariffs on American agricultural goods. Experts warn

Trump Triggers Trade War, Bitcoin Plunges to $91,255!

Markets in Turmoil Over New Tariffs

On February 1st, former U.S. President Donald Trump signed an executive order imposing new import tariffs on three countries:

  • 🇨🇦 & 🇲🇽 Canada and Mexico: 25% tariff on industrial goods, 10% on energy
  • 🇨🇳 China: 10% tariff on imports

The decision immediately sent shockwaves through financial markets as trading partners pushed back hard. Canada retaliated with $12.6 billion in counter-tariffs, while Mexico imposed 15%–25% tariffs on American agricultural goods.

Experts warn that the trade war could fuel inflation and drag down U.S. economic growth. The Wall Street Journal slammed the policy as "the dumbest trade war in history," cautioning it could trigger a recession.

Bitcoin Loses $100,000 Level, $455 Billion Wiped Out in 24 Hours!

Following the announcement, the crypto market went into freefall. Bitcoin dropped to $91,255, down 8.7%—its sharpest single-day decline in three months.

Key statistics:

  • 💰 $455 billion wiped from the crypto market
  • 🔥 $2.14 billion liquidated across exchanges
  • 📉 DOT, ADA, SUI fell more than 15%, while AI tokens like VIRTUAL and SWARMS lost over 20%

U.S. equities also came under heavy pressure:

  • Nasdaq 100 futures fell -2.4%
  • S&P 500 futures lost -1.9%
  • Dow Jones futures slid -1.35%

In Asia, the Nikkei 225 and KOSPI both tumbled sharply, reflecting investor anxiety over the fallout from the new trade policies.

USDT Premium Rises — Are Investors Getting Nervous?

Alongside Bitcoin's decline, the market also saw an unusual USDT premium in OTC trading. The USDT/VND rate hit 7.54, running 3.98% above the official USD exchange rate.

This reflects growing liquidity concerns and a flight-to-safety impulse amid the sharp volatility sweeping financial markets.

Will Bitcoin Recover?

Despite the severe market shock, many analysts remain cautiously optimistic on Bitcoin heading into 2025.

  • Binance CEO Richard Teng believes Trump's new policies could bring regulatory clarity that ultimately pushes Bitcoin to new highs.
  • Morgan Stanley has downgraded crypto from "Growth" to "Neutral," arguing that the market needs time to digest the political uncertainty.
  • Fidelity sees the market as oversold, suggesting a technical bounce is likely.

Prominent trader Ansem commented on social media:

"Unless the trade war escalates further, this sell-off looks like an overreaction. That said, altcoins will need more time to recover."