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Historic downturn in the cryptocurrency market: BTC and other Tokens have plunged significantly, here are the details
Asian investors opposed the escalation of Trump's trade war, and BTC saw a historic decline.
The Asian market is struggling to cope with the potential economic impact of US President Donald Trump's new trade war measures, and BTC and alternative currencies opened with a sharp decline.
BTC has dropped to the level of $91,200 and has now successfully risen above $94,000.
The severe decline has further hit alternative currencies.
Bitcoin(Bitcoin), Ethereum(ETH), along with major digital assets including Solana and XRP, are facing significant selling pressure due to traders assessing global economic risks. In the past 24 hours, most of the altcoins have dropped by 20%.
BTC fell 8% during the early Asian trading session to around $91,200, then rebounded slightly in the Hong Kong afternoon to $94,000.
ETH suffered a more severe blow, falling to the $2100 level.
When SOL plummeted to the $177 level, XRP also fell 27% to the $1.70 level.
This decline even dwarfs the severe recession caused by the Covid pandemic. Experts say this could be the biggest drop in history.
Not investment advice
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