Did Trump's tariffs cause a crypto sell-off or simply a market scare?

Tariffs and Market Impact

The imposition of 100% tariffs by Trump resulted in significant disruption within the cryptocurrency market.

Financial Losses

This event led to a substantial loss of approximately $16 billion in long positions.

Bitcoin's Decline

Bitcoin's value experienced a notable plunge as a direct consequence of the tariffs.

Trader Reactions

The market volatility prompted widespread panic among cryptocurrency traders.

Speculative Activity

The situation fueled speculation regarding which parties had anticipated the market’s reaction.