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After a brief recovery, the cryptocurrency market has experienced significant declines. Major cryptocurrencies such as Bitcoin 
$104,748 and Ether have seen notable drops in the last 24 hours, prompting market volatility that urges caution among traders.
Declines in Cryptocurrencies
Bitcoin briefly reached the $80,000 mark but then fell to around $76,500, trading below $78,000. The U.S. government’s announcement to implement a 104% tariff on Chinese goods has amplified concerns in risk markets, emphasizing the seriousness of the situation.
Stocks focused on cryptocurrencies have also been affected by this downturn. Bitcoin miner Bitdeer reported an approximate 8% loss, while significant companies like Strategy and Coinbase experienced declines of 5% and 2%, respectively. In contrast, Toronto-based DeFi Technologies saw an increase of over 10% in line with some shareholder expectations.
Chinese Yuan Weakens
The planned 104% additional tariff by the U.S. administration is putting pressure on the market. Following the White House’s decision, new tariffs on Chinese goods have strained the yuan, which has fallen to its lowest levels, reaching a value of 7.4.
“If the Fed doesn’t intervene, the PBOC will provide us with crispy materials. It worked in 2013 and 2015 and could work again in 2025. Ignoring China puts you at risk.” – Arthur Hayes
“Currently, we are in a period of rising uncertainty amid ongoing trade disputes, geopolitical tensions, active conflicts, and fears of a global slowdown. Until more participants adapt to and benefit from this environment, a strong directional trend is unlikely.” – Kirill Kretov
The market is exhibiting volatility due to increasing trade disputes, geopolitical tensions, and existing global economic uncertainties. Low liquidity in both cryptocurrency and traditional markets continues to exacerbate fluctuations. However, as noted by Hayes, the crypto market, if not elevated by the Fed, could be lifted by China’s strategy. Despite the challenges, Chinese investors still represent a substantial percentage of global cryptocurrency trading volumes.
In summary, sudden losses in the cryptocurrency market, combined with the U.S. tariff decision, have plunged investors into uncertainty. Expected volatility in market conditions is likely to persist, with neutral observers suggesting that broader participation could stabilize the market. Investors can take steps to make more careful decisions by closely following the evolving situation.
