Crypto markets took a hit after US President Donald Trump announced 25% tariffs on steel and aluminum, escalating trade tensions. Trump also warned of reciprocal tariffs on countries imposing fees on US goods.
Following the news, Bitcoin (BTC) dropped to $94K but rebounded above $97K. Ether (ETH) also dipped to $2,537 before recovering to $2,645. The total crypto market cap fell from $3.15T to $3.10T, later recovering to $3.13T.
The Crypto Fear & Greed Index remained in “fear” territory, dropping to 43 from 46 the previous day. Meanwhile, Trump hinted at more tariffs targeting the EU, superconductors, oil, gas, steel, and copper.
Source: Cointelegraph
