Risk assets including cryptocurrencies suffered steep declines on Monday and Tuesday as traders grappled with concerns that proposed tariffs were on track to take effect.
That overshadowed the exuberance around Trump’s so named US strategic crypto reserve, which some traders had hoped would pull bitcoin out of slump. After reaching its record in January, it posted its worst month since 2022 in February.
Monday’s sell-off triggered a wave of $1.07 billion liquidations in the last 24 hours and these market instabilities have led to increased market fear, with the Greed and Fear Index indicating levels closer to ‘Extreme Fear.’ This level of fear was last seen in the last quarter of 2022, following the fall of Terra Luna & FTX. Global equity markets have also suffered. The Dow Jones Industrial Average, S&P 500 & Nasdaq recorded sharp declines.
Uldis Teraudklans, chief revenue officer at Paybis, said: “The current market outlook has seen Bitcoin price drop as low as 11.47 per cent…
