Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
BTC in Freefall: Trump’s ‘External Agricultural Product’ War Wipes 7% Off Crypto Markets

BTC in Freefall: Trump’s ‘External Agricultural Product’ War Wipes 7% Off Crypto Markets

Bitcoin.comBitcoin.com2025/03/03 22:11
By:Bitcoin.com

Though a prior policy reveal involving crypto reserves propelled assets like BTC and ether upward, the subsequent day told a divergent tale. After hovering just above $93,000 in early trading, BTC abruptly cascaded below $90,000. By afternoon, it stabilized near $87,000 as markets digested Trump’s plan to levy tariffs on foreign farm products starting next month.

The 47th U.S. President proclaimed:

To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold INSIDE of the United States. Tariffs will go on external product on April 2nd. Have fun!

Cryptocurrency markets contracted 6.81% to $2.88 trillion post-announcement, with BTC teetering near $87,000 after its sharp descent. Over $55.74 million in BTC long positions evaporated within an hour, compounding a daily total of $172 million erased.

BTC in Freefall: Trump’s ‘External Agricultural Product’ War Wipes 7% Off Crypto Markets image 0

Trump’s tariff rhetoric has repeatedly rattled BTC valuations, marking the fourth occasion such proclamations have depressed prices. The pattern underscores—er, illuminates—a recurring vulnerability in crypto markets to geopolitical fiscal shifts.

免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Mars Morning News | ETH returns to $3,000, extreme fear sentiment has passed

The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

MarsBit2025/11/30 21:01
Mars Morning News | ETH returns to $3,000, extreme fear sentiment has passed

The central bank sets a major tone on stablecoins for the first time—where will the market go next?

The People's Bank of China held a meeting to crack down on virtual currency trading and speculation, clearly defining stablecoins as a form of virtual currency with risks of illegal financial activities, and emphasized the continued prohibition of all virtual currency-related businesses.

MarsBit2025/11/30 21:01
The central bank sets a major tone on stablecoins for the first time—where will the market go next?