The post Why Is Crypto Crashing Today? appeared first on Coinpedia Fintech News
The crypto market is facing a massive sell-off, wiping out over $400 billion in just 24 hours. Major cryptocurrencies like Bitcoin, Ethereum, XRP, and Dogecoin have all taken a hit, with some dropping by nearly 20%. But what’s causing this sudden crash? Let’s dive into the key reasons behind the turmoil.
Trump’s Tariff War Sparks Fear
One of the biggest reasons behind the market drop is the recent trade war sparked by former U.S. President Donald Trump. Declaring a national emergency under the 1977 International Emergency Economic Powers Act (IEEPA), Trump imposed strict tariff rules, 25% on Mexico and Canada and 10% on Chinese imports.
pic.twitter.com/SWZtSm6NMX
— Donald J. Trump (@realDonaldTrump) February 1, 2025
The market reacted instantly, fearing higher prices, rising inflation, and economic instability. As a result, U.S. stock indexes fell sharply, dragging the crypto market d
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