Crypticnings lost more than $ 2 billion after Trump introduces import tariffs

On February 2, Trump ordered 25 percent tariffs on the goods of Canada and Mexico, as well as 10 percent tariffs on China’s goods. In addition, the United States introduces 10 percent tariffs throughout Canada’s importation.

Information about new tariffs led to volatility in the cryptocurrency market: investors responded to the fear of inflationary pressure, writes Crypto Briefing.

According to Coingcko, on the same day, the Bitcoin exchange rate sank at $ 100,000 to a level below $ 91.5 thousand, and the Ethereum rate fell 24%, to $ 2.3 thousand.

Due to the day, due to market volatility, long positions were eliminated for an amount of $ 1.7 billion, and Ethereum merchants incurred losses of $ 528 million, and Bitcoin merchants at $ 421 million, data from data from Coinglass.

The total capitalization of the cryptocurrency market was reduced by approximately 8%, but most cryptographic assets suffered two digit losses per day. XRP and Doge fell by 30%, ada – in 35%, and Sol and BNB – in 15%, writes Crypto Briefing.

Analysts believe that Trump’s new rates in the future can lead to an increase in Bitcoin’s demand as a means of protection against inflation. According to the head of the Alpha Strategy Department in Bitwise Asset Management, Jeff Park, the introduction of new tariffs can weaken the dollar and create favorable conditions for the growth of Bitcoin.

On January 27, the world capitalization crypto fell by more than 5%. This happened after the president of the United States, Donald Trump, signed a decree on the creation of a working group on cryptocurrencies.