The crypto market experienced a wave of sell-offs, with prices dropping due to macroeconomic uncertainty following comments from U.S. President Donald Trump. Trump's statements on budget cuts and trade tariffs raised concerns about increased market volatility, causing investors to move away from risk assets like cryptocurrencies. Bitcoin and other altcoins, including Solana, XRP, Ethereum, Cardano, and Dogecoin, all suffered significant losses. The market slump led to $620 million in liquidations, with Bitcoin alone accounting for $241 million in losses. The downturn also impacted major U.S. tech stocks and the S&P 500. The decline in Bitcoin futures on the Chicago Mercantile Exchange marked the second-largest single-day decline this month. Trade tensions between the U.S. and China, along with disappointing institutional support for Bitcoin, further weighed on investor sentiment. Traders are now closely monitoring key economic data, such as the U.S. Consumer Price Index and the Producer Price Index, for potential impact on the market's short-term trajectory.



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