Bitcoin and Ethereum Plummet Amidst Trump’s China Tariffs

Crypto markets experienced a sharp downturn Wednesday as President Donald Trump’s new tariffs on Chinese goods officially took effect. Bitcoin and Ethereum saw significant drops, driven by fears of a global economic slowdown and triggering nearly $411 million in crypto liquidations within the past 24 hours. The market reacted to Trump’s tariffs, leading to a decline across global markets.