Bloomberg: Crypto markets hit hard after Trump's tariff announcement

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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.

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