According to Bloomberg, the cryptocurrency market was severely impacted after Trump announced additional tariffs. Specifically, BTC fell 4.3% in trading last Sunday, ETH fell 8%, and the selloff of Altcoins was even more intense, with DOGE falling around 14%, and Altcoins such as XRP, ADA, AVAX, and LINK all falling more than 10%.
BTC Markets CEO Caroline Bowler stated: Trump's tariff policy is affecting the entire market, and concerns about a trade war and stagflation-induced recession are spreading to the Altcoin and Bitcoin markets.
According to a US official, Trump is imposing a 25% tariff on goods from Canada and Mexico, and a 10% tariff on Chinese goods, which will trigger a new round of trade war.