Trump's 25% Tariff Announcement Sparks Crypto Market Volatility

Coin Gabbar12 Feb, 2025Business

President Donald Trump's recent announcement of a 25% tariff on steel and aluminum imports has led to significant volatility in the cryptocurrency market. Major cryptocurrencies like Bitcoin and Ethereum have experienced notable price fluctuations, with Bitcoin trading at approximately $95,629, down 2.69%, and Ethereum at $2,594.31, down 3.95%. Analysts suggest that these tariffs could increase production costs for mining equipment, potentially affecting mining operations and overall market sentiment. Investors are advised to monitor these developments closely, as the evolving trade policies may continue to impact the crypto market.