The post Why Did Crypto Crash? It Might Be Because of TRUMP appeared on BitcoinEthereumNews.com.

Why Did Crypto Crash? Trump’s Tariff Threat Sends Bitcoin Tumbling The crypto market took a sharp downturn after President Donald Trump announced his plan to impose a “straight 50% tariff on the European Union” starting next month. This bold trade threat sent shockwaves across global markets—especially risk-on assets like Bitcoin and altcoins. Total market cap in USD – TradingView The total crypto market cap dropped 3% in the past 24 hours, with Bitcoin and major altcoins posting red candles. But why did crypto crash so suddenly, and is this the start of a deeper correction? Bitcoin Drops After Trump’s EU Tariff Shock In an unexpected turn, President Trump’s announcement on stalled trade negotiations with the EU came with a bold proposal—50% tariffs starting next month. The crypto community reacted instantly, interpreting the move as a potential catalyst for macroeconomic uncertainty and market volatility. Bitcoin (BTC), often dubbed digital gold during uncertain times, failed to act as a safe haven this time. The asset slipped 2.27% over the last 24 hours, now trading at $108,247.81, despite still being up 4.71% over the past week. Altcoin Market Follows Bitcoin Lower Altcoins mirrored Bitcoin’s decline, with Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) all dipping on the day: Ethereum (ETH): Down 5.21%, now trading at $2,550.32, despite showing a 2.75% gain this week. XRP: Fell 4.57% to $2.33, with some resilience showing over the week at +1.24%. Solana (SOL): Dropped 3.57% to $175.19, with a 4.44% gain over 7 days. Cardano (ADA): Took a larger hit at 7.50% down, trading at $0.7599, and showing flat weekly performance at +0.22%. Even Dogecoin (DOGE), which has recently been riding a memecoin rally, fell sharply after gaining traction earlier this week. Political Tensions Meet Meme Coin Hype Adding fuel to the fire, President Trump also…

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Filed under: News - @ May 24, 2025 6:21 am