Trump’s Crypto Push Falls Short? Market Crashes Amid Major Plunge

By / / Crypto News, Daily News
Trump's Crypto Push Falls Short? Market Crashes Amid Major Plunge

The U.S. crypto market, once expected to thrive under Trump’s leadership, is now facing turbulence. After a brief recovery following the announcement of the Trump Crypto Strategic Reserve, prices are sliding again. Has Trump’s crypto vision already hit a dead end?

Why is the Crypto Market Crashing?

Several factors are being blamed for the recent downturn. Crypto analysts at QuikNotes highlight key reasons contributing to this latest slide in the market.

Trump Tariffs and Trade Tensions

Trump’s ongoing tariffs and trade wars are causing uncertainty across global markets. Investors are growing cautious, avoiding high-risk assets like crypto amidst economic instability.

Disappointing Results from the Trump Crypto Summit

The Trump Crypto Summit was expected to be a game-changer for the market. However, it failed to produce the positive momentum traders were hoping for, leading to disappointment across the crypto space.

Rising Fear and Market Instability

With the global crypto market cap dropping 4.08% to $2.58 trillion, investor sentiment remains shaky. Despite a 54.55% increase in trading volume, fear dominates the market, making it unclear whether this is a short-term correction or a sign of deeper trouble ahead.

Crypto Prices Today: Major Coins Take a Hit

Even cryptocurrencies associatedz with Trump’s Strategic Reserve haven’t been spared from the ongoing crash. Here’s a closer look at how top assets are performing.

Bitcoin Faces Selling Pressure

Bitcoin (BTC) has fallen by 2.91%, now trading at $79,902. Its market cap declined by 2.93% to $1.58 trillion. Earlier today, it dropped as low as $76,808. Interestingly, trading volume spiked 57.86%, suggesting increased activity from both buyers and sellers trying to take advantage of the dip.

Ethereum Records the Sharpest Drop

Ethereum (ETH) has taken the hardest hit among major cryptocurrencies. It’s down 9.71% in the past 24 hours, now at $1,869.34. Its market cap dropped 9.68% to $225.45 billion. However, trading volume surged 85.59% to $38.46 billion, indicating heightened market activity despite the drop.

XRP Struggles to Stay Afloat

XRP had briefly rallied after the Trump Crypto Reserve news but is now down again by 5.20%, currently at $2.07. Its market cap stands at $120.72 billion, with trading volume up 31.90% to $9.22 billion. The ongoing Ripple vs. SEC case continues to keep XRP under pressure.

Solana and Cardano Join the Decline

Solana (SOL) fell by 5.47% to $120.90, while its market cap dropped 5.62% to $61.56 billion. However, trading volume rose 53.40% to $6.13 billion.

Cardano (ADA) declined by 4.71% to $0.7105, with its market cap falling 4.77% to $25.03 billion. Trading volume increased by 8.65% to $1.97 billion, showing a rise in speculative activity even as prices fall.

Fear and Greed Index Shows Extreme Fear

The Fear and Greed Index indicates that market sentiment has shifted toward extreme fear. Many investors are hesitant to make new investments, but some experts believe this could be an opportunity to buy at discounted prices.

Can Trump’s Crypto Strategy Be Revived?

CoinGabbar crypto experts believe the market could still see a turnaround. The surge in trading volume might suggest preparation for a rebound. However, whether this is a short-term dip or a longer bearish trend remains unclear.

All eyes are now on Trump’s next move—whether new policies or updates like the Trump Crypto Reserve or another summit can restore investor confidence.

Final Thoughts: Volatility Still Rules the Market

The current crypto crash highlights the market’s unpredictable nature. While some are selling in fear, others are seizing the opportunity to buy low. Trump’s influence on crypto markets is clearlyJ under question now, and only time will tell if his strategies can stabilize the sector again.

Also Read:

Scroll to Top