Crypto plunges as Trump tariff 'medicine' brutalizes global stock markets
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US President Donald Trump told reporters he wasn't intentionally engineering a market sell-off, but “sometimes you have to take medicine to fix something.”
Cryptocurrency prices tumbled as the US stock futures market opened sharply lower on April 6 as the Trump administration doubled down on its global tariff strategy.
The Trump administration hit all countries with a 10% tariff starting April 5, with some slapped at higher rates, including China at 34%, the European Union at 20%, and Japan at 24%.
Bitcoin (BTC) dropped over 6% in the last 24 hours and was trading around $77,883. Meanwhile, Ether (ETH) shed over 12% in the same time frame and was trading at $1,575, according to CoinGecko. The total crypto market cap dropped over 8% to $2.5 trillion.
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