Bitcoin and Ethereum Drop Amid Tariff Uncertainty and Weak Economic Data, Experts Suggest Further Declines可能性
The post Bitcoin and Ethereum Drop Amid Tariff Uncertainty and Weak Economic Data, Experts Suggest Further Declines可能性 appeared on BitcoinEthereumNews.com.
Bitcoin and Ethereum faced significant declines today, prompted by renewed concerns over macroeconomic data and tariff announcements from former U.S. President Trump. This downturn comes after a brief rally, highlighting the volatility inherent in the cryptocurrency market and the influence of broader economic factors on digital asset prices. “Crypto bulls didn’t last long as weak macro data and Trump’s tariff rhetoric dragged risk assets down,” observes Peter Chung from Presto Research. Bitcoin and Ethereum slide as macroeconomic concerns and tariff announcements from Trump create ripples in the crypto market. Key insights included. Crypto Market Reaction: Tariff Implications and Economic Data The recent struggles of Bitcoin and Ethereum illustrate the heightened sensitivity of the crypto market to external economic factors. Bitcoin lost 10%, falling to $83,704, while Ethereum saw a dramatic 14.7% drop, reaching $2,082, its lowest point since November 2023. The downward trend was not isolated, as the Block’s GMCI 30 index, measuring top cryptocurrency performance, also experienced a significant 14% decline. Analysts Weigh In: Economic Indicators and Tariff Pressures Analysts emphasize that the underlying cause of this market shift stems from a combination of factors, particularly Trump’s announcement of 25% tariffs on Canadian and Mexican imports, compounded by an additional increase on Chinese imports. “Trump’s ongoing tough talk and actions on tariffs further fueled risk-off sentiment,” noted Rachael Lucas, a crypto analyst at BTC Markets. Furthermore, disappointing data from February’s ISM PMI, reflecting a drop in employment and new orders, coupled with rising prices, has raised fears of recession. Investor Sentiment and Market Dynamics As markets digest these developments, investor sentiment is turning increasingly cautious. “The negative outlook of the U.S. economy will continue to push crypto prices lower,” stated Kevin Guo, director of HashKey Research, reflecting widespread concerns among market participants. The potential for retaliatory tariffs from affected…
Filed under: News - @ March 4, 2025 6:18 am