Trump’s Tariff Announcement Sparks Market Downturn

U.S. President Donald Trump’s announcement of a 10% tariff on all imported goods, along with reciprocal tariffs against countries with significant trade deficits with the U.S., triggered swift market reactions. Bitcoin experienced a notable decline, plummeting from an intraday high of $88,500 to $81,200 before erasing earlier gains and resulting in widespread liquidations across the cryptocurrency market. Over $221 million in long positions were liquidated, with Bitcoin experiencing a more significant impact compared to Ethereum. ]