As of 9:05 a.m. on the 3rd, Bitcoin was
Bitcoin fell 4.55% from 24 hours ago to $96,584. This is the first time Bitcoin has collapsed below $100,000 since the 28th of last month.
Ethereum, the second largest cryptocurrency by market capitalization, also fell 9.83% to $2,838 (about JPY 440,000), falling below $3,000.
In particular, Ripple, the third largest cryptocurrency by market capitalization, is trading at $2.37, down 18.93%.
This is the first drop since the 14th of last month. Not only that, Solana, the fifth largest by market capitalization, has plummeted by 8.38%, while Dozico, the eighth largest by market capitalization, has plummeted by 18.02%.
The cryptocurrency market crash comes after President Trump signed an executive order the previous day imposing 25% tariffs on Mexico and Canada and an additional 10% tariff on China.
The executive order will take effect on the 4th. If tariffs are imposed, import prices will rise, increasing inflationary pressure in the United States. If inflationary pressure increases, interest rate cuts will be for naught.
As a result, cryptocurrencies are plummeting en masse.
2025/02/03 12:01 KST
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