Bitcoin and most Altcoins have crashed on Tuesday morning, and continued in the direction that has continued in the past few months. BTC decreased to $ 91,000 for the first time since February 3 and 15 % lower than its highest level this year.
The other altcoins was also red. Pepe Coin, the third largest MIM coin, decreased to $ 0.0000080, a decrease of approximately 70 % from a high point this year. XRP decreased to $ ⅔, while Shiba Inu, Dogecoin and Popcat were crashed. Also launched the PI network was launched, why was Bitcoin and other Altcoin prices broke down?
Donald Trump’s tariff and inflation
The first main reason behind the collapse of Bitcoin, Altcoins, such as XRP, Pepe, Shiba Inu, DOGE and PI Coin is the increasing fear of customs tariffs in the United States.
Trump pledged to impose a great tariff on the main products and goods from the main countries. Saturday, Saturday will be rapidly rapidly applied to Canada and Mexico of 25 %, which was temporarily suspended earlier this month.
Trump will also impose a 25 % tariff on steel and aluminum. He is also considering adding a tariff to the European Union commodities. Moreover, it will impose a mutual tariff on other countries, a step that hopes to reduce trade surplus.
Trump also hopes these definitions will help pay the price of tax cuts. His belief is that foreign countries will be the one that pays the price of these definitions.
The risks are that these definitions will lead to high inflation and stagnation, and the conditions that are usually friendly of risky origins such as bitcoin and balcony,
XRP, Shib and Altcoins were shattered with a decrease in fear and greed index
Bitcoin and other Altcoins also collapsed such as PEPE, XRP, Pi Network, Shiba Inu and Dogecoin as a feeling of fear in the market. Fear and greed index moved from the 90 extremist greed area in 2024 to the fear area on 38 today.
Historically, cryptocurrency prices are disrupted when investors are afraid. This happens because many of them sell panic because they prevent more losses. In addition, encryption investors usually remain on side lines when there is a feeling of fear in the market.
Next Nafidia profits
In addition, Bitcoin and Top Altcoins such as Pi Network, Pepe, Shiba Inu and Doge are broken as investors expect the latest NVIDIA profits It is scheduled for Wednesday. These results are usually closely monitored because Compay has become the second largest in the world. It has also become a distributor of artificial intelligence Madness.
Therefore, there is a fear of publishing weak financial results, which is a step that will lead to the collapse of the coded shares and currencies. In fact, the NVIDIA share price fell by more than 3 % on Monday before these profits.
On the positive side, strong results and guidelines will increase encryption and stock market later this week.
Buy rumors and sell news
Finally, bitcoin and jokes are drowned where investors sell news. As you remember, these assets have risen before the oath, Donald Trump. This procedure occurred in the price as investors expected his friendly policies.
The encryption market is now selling news after the oath. This is the common situation where investors buy before a big event and sell it when the report occurs,
There are other reasons that make these assets break. For example, investors still reel Which cost the company more than $ 1.4 billion. It is also overwhelmed because they are going through the WyckFF theory.
The publication here is the reason that the prices of the XRP, PEPE, Shiba Inu, DOGE and PI network were first shattered on Invezz
