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Bitcoin and other major cryptocurrencies have undergone steep losses while the global financial markets collapsed from the escalation of trade tensions.
The price of the BTC has dropped below $ 75,000, with altcoins such as Solana (soil), Ripple (XRP) and Dogecoin (DOGE) each falling around 20% in the last 24 hours.
The sudden drop has broken the main levels of technical support, which argues concerns about other short -term drops.
XRP dropped below its 200 -day mobile average, currently negotiating nearly $ 1.70, a level closely monitored by merchants for market dynamics signals.
Sol, meanwhile, slipped under the bar of $ 100, emptying its mobile average at 50 days and recording a drop of 64% compared to its top of all time.
The same favorite Doge also suffered, falling at $ 0.13. Analysts attribute strong sale to the rise of macroeconomic uncertainties, forced liquidations and increased anxiety of investors from aggressive trade policies of the Trump administration.
President Donald Trump recently unveiled a radical pricing package which includes a 25% levy on vehicle imports, a minimum rate of 10% on all imports and “reciprocal rates” targeting countries imposing rights on American products.
These measures rocked the markets, leading to a capital leak from more risky active ingredients such as crypto and a pivot to security documents such as Japanese gold and yen.
The eminent hedge fund manager and Trump’s supporter, Bill Ackman, publicly urged the administration to suspend the climbing of prices for 90 days, warning that the current trajectory could trigger an “economic nuclear winter”.
He stressed that confidence in American leadership among global business leaders deteriorates quickly.
“This is not why we voted,” Ackman wrote in an article on X, formerly Twitter. “Business is a game of trust. The president loses the confidence of business leaders around the world. ”
Ackman criticized the administration’s pricing formula – which bases tasks on trade deficits – as erroneous and economically risky.
Economists have warned that the general nature of prices could harm both international partnerships and domestic commercial investments.
While fears of an prolonged trade war is intensifying, the negative feeling has repercussions on the cryptographic markets.
The cryptocurrency markets have been faced with a brutal correction on what is nicknamed “Black Monday”, with total liquidations exceeding $ 1.36 billion in the last 24 hours.
The cryptography market falls with the world’s stock markets according to Trump’s “Liberation Day” prices.
According to Coringlass data, long -term positioned traders brought the weight of market disorders. More than $ 1.2 billion in long Paris were destroyed, Bitcoin long representing more than $ 392 million in losses.
The crypto was not alone in the sale. US stock contracts also plunged on Sunday evening, strengthening fears of a wider market accident.
The term contracts on S&P 500 fell by 5.98%, the term contracts on the NASDAQ 100 slipped by 6.2%and the term contracts on DOW dropped by 5.5%, all pointing to a chaotic start to the week of negotiation.
The net sale follows an increasing macroeconomic uncertainty, the intensification of trade tensions and the tremor of investors on the order of the prices of President Donald Trump.
The BTC, Sol, XRP position decreases by 20% – Billionaire Bill Ackman calls a break on Trump’s prices at 90 days first appeared on cryptonews.