Crypto traders blame Trump’s tariffs in search of ‘singular event’: Santiment
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The US-China talks will “be central” to crypto traders’ market moves in the short-term, sentiment platform Santiment said.
Crypto retail traders were quick to blame Friday’s broader crypto market decline on US President Donald Trump announcing a 100% tariff on China, as they often look for something to point the finger at during downturns, according to Santiment.
“This is typical 'rationalization' behavior from retailers, who need to point to a singular event as the reason for a cataclysmic downturn in crypto,” Santiment said in a report on Saturday.
“After the crash, the crowd quickly jumped to collectively come to a consensus as to what the flush could be attributed to,” Santiment said, referring to the increase in social media discussions related to both the crypto market and US-China tariff concerns.
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