Altcoins fall one after another… Bitcoin share surpasses 60% again

While the price of Bitcoin has fallen by more than 6% over the past seven days, most altcoins have seen bigger declines, with Bitcoin's share dropping by over 60%.
On the 2nd (local time), it was reported that Bitcoin's share of the total virtual currency market capitalization, which indicates its share, exceeded 60% that day.
This comes amid a general downturn in the cryptocurrency market due to trade tariffs announced by U.S. President Donald Trump.
Altcoins have been hit even harder in this sell-off. According to CoinMarketCap, as of 10:20 a.m. on the 3rd, Bitcoin was down 6.14% over the past seven days.
On the downside, Ethereum (ETH) has fallen about 12.66% over the past seven days, XRP has fallen 22.22%, and Solana (SOL) has fallen 17.81%.
President Trump's new tariffs include a 25% tax on products imported from Canada and a 2019 tax on all products imported from Mexico.
These include a 25% tax on imports of American products and a 10% tax on all goods made in China. In response, countries have announced retaliatory tariffs.
Investors are concerned about inflation concerns from a new trade war and high interest rates that are likely to continue into 2025.
Trump's tariffs came amid a recent selloff in U.S. technology stocks and the cryptocurrency market.
Another factor that has shaken up the market is said to be the emergence of the open source AI model "DeepSeek R1" developed in China.
According to a DeepSeek white paper, the model performs on par with OpenAI's leading models while leveraging older hardware at a much faster rate.
It is characterized by being trained at low cost. The launch of DeepSeek was evaluated as an unexpected "black swan event," which led the Trump administration to launch the Nvi
The company is considering additional export controls that would more severely restrict DIA's sales to China, which has further increased uncertainty in financial markets.