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This week, the cryptocurrency market painted a concerning picture for participants. Bitcoin (BTC) 
$83,980 and altcoins plummeted significantly, influenced by macroeconomic developments in global markets. The new tariffs announced by Donald Trump directly affected the cryptocurrency market, raising alarms for investors.
Trump’s Tariffs and Their Effect on the Crypto Market
President Donald Trump announced new tariffs for Mexico, Canada, and China this week. This development intensified fears of a global trade war, delivering a heavy blow to the markets. Bitcoin fell to around $95,000, while altcoins also saw considerable devaluation. Although Trump announced a 30-day suspension of the new tariffs for Mexico and Canada, the market has yet to recover, leaving investors anxious about potential further declines.
Following the tariffs, Trump stated that reciprocal tariffs would be announced next week. Experts warn that these moves could escalate the trade war further.
How Whale Activity Influences Prices
Throughout the week, Bitcoin saw a decline of about 3%, trading around $97,000. Ethereum (ETH) 
$1,927 dropped 14%, falling to $2,600. XRP also faced a significant loss, dropping 14% in just one day, preparing to close the week below $3. However, the increasing activity of whales has sparked some optimism among certain investors.
According to recent data, XRP whales purchased 520 million coins during this downturn, while ETH whales continued their buying spree. Additionally, whale activity has surged in meme coins like PEPE and WIF.
