CNBC: As Trump's new tariffs trigger risk aversion sentiment, the crypto market enters a turbulent August.

robot
Abstract generation in progress

On August 2, according to CNBC, the crypto market experienced a decline on Friday after Trump announced adjustments to "reciprocal" tariffs for dozens of countries. Bitcoin's price held relatively steady, while Ethereum, XRP, and BNB all saw slight falls. Bitcoin briefly dropped to a low of $113,988.47. This decline triggered a large-scale liquidation of long positions, meaning traders were forced to sell assets at market price to repay debts, further depressing prices. U.S. stocks related to crypto faced even larger falls. CEX led the decline with a 15% drop due to poor performance in the second quarter; Circle fell 4%, Galaxy Digital dropped 2%, Ethereum treasury company Bitmine Immersion fell 8%, and MicroStrategy decreased by 5%.

TRUMP-0.58%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)