US President Donald Trump's announcement of 100% new tariffs on China sent shockwaves through the crypto market. The announcement triggered a sharp sell-off across the market within minutes.
Bitcoin (BTC) fell nearly 2% in the last hour, falling to $114,500. The daily decline exceeded 5%. The market's panic selling wasn't limited to BTC; Ethereum (ETH) fell 2.3% in one hour and almost 10% in the last 24 hours.
A momentary drop in BTC price to $113,000 was also recorded.
Chart showing the decline in BTC price.
A similar pattern emerged for major altcoins. Solana (SOL) fell 2.2% in the last hour, while Cardano (ADA) fell 3.1%. Dogecoin (DOGE) fell over 3% in the last hour, and XRP fell 3.5%.
*This is not investment advice.
