Bitcoin and Crypto Market Decline Amid Regulatory Uncertainty and Global Economic Concerns
Bitcoin and Crypto Market Decline Amid Regulatory Uncertainty and Global Economic Concerns
Bitcoin fell sharply on Monday, dropping 4.4% to $100,557.5, as risk appetite declined amid broader market volatility. The downturn was fueled by U.S. President Donald Trump's tariff threats and uncertainty over his regulatory plans for the crypto industry. Trump's recent executive order on crypto regulation notably omitted Bitcoin, raising doubts about his commitment to establishing a national digital asset reserve.
Broader Market Sentiment Sours
Equity markets also declined, with tech stocks facing additional pressure from DeepSeek, a new AI program from China that claims to rival ChatGPT at a lower cost. This spill-over effect impacted crypto markets, with altcoins tracking Bitcoin's losses.
$TRUMP Memecoin Plummets Further
The $TRUMP memecoin, launched by the former president in January, slid nearly 14% to $26.675, compounding its 60% decline since its post-launch peak. The token's volatility has raised ethical concerns about Trump's influence on crypto markets.
Altcoins Suffer Significant Losses
Major altcoins also saw steep declines, with Ether dropping 5.8% to $3,148.51 and XRP falling 6.2% to $2.9369. Solana, Cardano, and Polygon experienced losses between 5% and 11%, while Dogecoin shed 9.4%.
Regulatory and Economic Uncertainty Weighs Heavy
The Federal Reserve's upcoming meeting added to market jitters, with expectations of a hawkish stance despite stable interest rates. Trump's tariff threats, particularly against Colombia, Mexico, Canada, and China, further fueled fears of escalating trade tensions.
The crypto market remains vulnerable to regulatory ambiguity and global economic uncertainty, with investor sentiment increasingly cautious.
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