Why Is #Bitcoin Price Down Today? #Trump's Tariffs Shake #Markets
The primary catalyst has been Donald Trump's announcement of new trade tariffs, which sparked broader market #uncertainty. The #cryptocurrency market, increasingly correlated with traditional financial markets, reacted strongly to this news. Additionally, the strengthening U.S. dollar and declining stock futures have created a risk-off environment where investors are moving away from #volatile assets like #cryptocurrencies.

The dollar’s outperformance is detrimental to cryptocurrencies, with the majority of Bitcoin trades happening against USD. About 70% of the trading volumes between bitcoin against fiat currencies happen in dollars.
#Bitcoin #Trump #Markets #uncertainty #cryptocurrency #volatile #cryptocurrencies