Bitcoin, Ethereum and Solana Slide as Trump’s Tariff Announcement Sparks Global Market Selloff

U.S. President Donald Trump’s official signing of a global tariff order on Wednesday created pressure across the entire cryptocurrency market. Global financial markets reacted with concern to the trade regulations by experiencing a major cryptocurrency market decline.

Ethereum took center stage in today’s market downturn, feeling the brunt of investor reaction to President Trump’s global tariff order. The second-largest cryptocurrency by market capitalisation dropped 3.18 percent in the past 24 hours, slipping to $1,820. This marks a continuation of its weekly slide, with losses now extending to 11.18 percent. The decline reflects mounting caution among investors navigating growing geopolitical and economic tension.

Other major cryptocurrencies also traded in the red, though none as steeply as Ethereum. Bitcoin fell by 1.93 percent, settling at $83,490. Solana declined 4.13 percent to $120.07, while XRP dropped 2.40 percent to $2.06.

Also Read: BNB Smart Chain for Beginners: How to Get Started and Maximize Benefits

Trump’s Tariff Order Triggers Risk-Off Sentiment Across Crypto and Global Markets

The new presidential order will activate reciprocal trade barriers against nations that maintain trade surpluses against the United States beginning on April 5th. The tariff announcement affects several Asian nations what includes Cambodia, Vietnam, Laos and Myanmar by setting various levels of duty from 44 to 49 percent. China currently bears a 34 percent import tariff against the United States and India has to pay 26 percent. Trade measures enacted by the United States excluded Canada and Mexico as the only two countries.

The new trade policy has created market instability which triggered a massive fear response among traders. The total value of $511.77 million from crypto futures markets was wiped out within 24 hours. The intense portion of the market sell-off resulted in $179.71 million worth of liquidations for Bitcoin alone.

Tether (USDT) kept its dollar value steady at $1.00 during the market turmoil as trading volume reached $87.52 billion. Market participants move their assets into stablecoins as a protective strategy while the market becomes unstable.

The absence of country or industry-based exemptions explained increased market volatility to Kathleen Brooks who serves as Research Director at XTB. She identified the policy’s broad approach as the main reason why “traders” experienced fear in their trading activities which subsequently triggered extensive sales across crypto and equity markets.

Conclusion

The approaching deadline of April 5 for new U.S. tariffs has kept investors throughout the market space in a state of cautious/secured position. The market faces present challenges while adapting to an increasingly uncertain international trade landscape as Bitcoin along with Ethereum and Solana and various major tokens experience notable withdrawals.

Also Read: FDUSD Depegging Triggers Criticism Amid Justin Sun’s Claims of Insolvency at First Digital Trust

The post Bitcoin, Ethereum and Solana Slide as Trump’s Tariff Announcement Sparks Global Market Selloff appeared first on 36Crypto.