The cryptocurrency market is experiencing a downward trend following President Donald Trump's announcement of 25% tariffs on Canada and Mexico. The overall crypto market cap has decreased by 11% in the past day. Bitcoin is trading in the low $80,000 range, far below the $90,000 level achieved earlier. Traders are seeking upside exposure through high-leverage calls, indicating a demand for potential price increases. BTC's volatility has also increased significantly. Crypto research experts believe that the market reaction is an overreaction to inflationary pressures and economic uncertainty. The long-term outlook for the crypto sector is considered positive, with the upcoming trading of CME Solana futures expected to accelerate the approval timeline for Solana spot ETFs. However, there are still many unknowns in the market, making cautiousness advisable. The dominance of the top 10 altcoins in trading has also increased compared to a year ago.



Other News from Today