Cryptocurrency markets are experiencing a new wave of liquidations as President Trump’s latest tariffs impact global economies.
These comprehensive tariffs aim at a broad range of countries and exceed many analysts’ expectations, leading to significant economic volatility and uncertainty in both traditional and digital asset sectors.
At the time of publication, Bitcoin’s price has sharply decreased from a 24-hour peak of $87,790 to $82,223, with $518 billion in liquidations affecting BTC and the broader digital asset market within the past day, as reported by CoinGlass.
The Dow Jones Industrial Average has declined by over 1,000 points during after-hours trading, while the S&P 500 futures dropped by 3.5%, and the Nasdaq 100 futures fell by 4.2%.
President Trump has enacted an executive order instituting a 10% tariff on all goods imported into the U.S., set to take effect on April 5th, with the objective of safeguarding domestic manufacturing.
Additionally, he issued a proclamation outlining “reciprocal tariffs” on numerous specific nations, effective April 9th, with rates reaching as high as 54% on imports from China.
During a speech at the Rose Garden, Trump stated that these reciprocal tariffs aim to rectify decades of unfair trade practices and restore economic equity for the United States.
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Disclaimer: The views expressed in The Daily Hodl are not financial advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transactions and trades are at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the purchase or sale of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Note that The Daily Hodl is involved in affiliate marketing.
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