Bear market: bitcoin, other cryptocurrencies fall on risk-asset slump amid Trump tariffs

Quick Summary:

For bitcoin, which fell as much as 4 per cent to about US$82,000 on Thursday, US$80,000 is a must-hold’ level, cryptocurrency analysts say.

New tariffs imposed by US President Donald Trump on the country’s trading partners have triggered a slump in digital assets.“As a risk-on asset, cryptocurrencies have generally traded poorly during periods of uncertainty following announcements such as steady high rates or the introduction of trade tariffs,” said John Wu, president at Ava Labs.

Solana had at one point shed more than 9 per cent of its value.

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Article Details

Author / Journalist: Bloomberg

Category: Business

Markets: Hong KongChinaJapanSingapore

Topics: Slump Other Tariffs Trading Cent President Donald Partners Cryptocurrencies Imposed Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-03 @ 16:12:56 (1 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 207 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 27558730

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