President Trump's newly enacted global tariffs significantly affected the cryptocurrency market, leading to a substantial sell-off. Major cryptocurrencies like Bitcoin and Ether saw sharp declines, with Bitcoin dropping 4.2% and Ether 5.6%. This downturn extended to major exchanges and companies within the crypto ecosystem, causing losses across the board. The Crypto Fear & Greed Index indicated a drastic shift in market sentiment from 'neutral' to 'extreme fear'. Despite this turmoil, some crypto advocates remained optimistic, asserting that Bitcoin would remain unaffected by tariffs.
Blockchain assets across the board slumped considerably as a mass sell-off ensued following Trump’s 'Liberation Day' tariffs, indicating the market's volatility.
The prevailing market sentiment shifted from 'neutral' to 'extreme fear', reflecting the impact of the tariffs on Bitcoin and major cryptocurrencies.
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