Bitcoin Crashes! Trump’s Trade Policies Wreak Havoc on Crypto
The cryptocurrency market has been thrown into chaos today (March 4, 2025), following U.S. President Donald Trump’s aggressive tariff policies targeting key trade partners. Digital assets are witnessing a massive sell-off as investor sentiment turns deeply negative.
Bitcoin and Altcoins Face Brutal Crash
According to CoinMarketCap, Bitcoin (BTC) has plunged 8.47% in the past 24 hours as of 06:49 WIB. Ethereum (ETH) has suffered a steeper decline, plummeting by 14.39%. Other major cryptocurrencies are in a freefall, with XRP (Ripple) crashing 17.81%, Solana (SOL) nosediving 19.28%, and Cardano (ADA) sinking by a staggering 21.85%.
Trump’s Tariff Tsunami Sparks Market Meltdown
As reported by *The Guardian*, President Trump has reaffirmed his commitment to imposing high tariffs on Canada and Mexico starting Tuesday. His protectionist stance has escalated tensions with the U.S.’s biggest economic allies, triggering fears of a prolonged trade war.
Shockingly, Trump even took a swipe at Ronald Reagan, a revered Republican icon and advocate of free trade. “I am a big fan of Ronald Reagan, but he was terrible at trade,” Trump declared, signaling his stark departure from traditional conservative economic policies.
Adding fuel to the fire, Trump announced plans to impose tariffs on agricultural imports in the coming weeks. The administration is set to implement these tariffs beginning April 2, with no room for negotiations, as confirmed in a press statement.
Hours before the new trade measures take effect, Trump’s uncompromising stance sent shockwaves through Wall Street, triggering widespread panic selling across financial markets.
Sweeping Tariffs Hit North American Trade
Under the new policy, all Mexican exports to the U.S. will be slapped with a hefty 25% tariff. Canadian exports will face similar barriers, with most products incurring a 25% tariff and energy-related goods, such as oil and electricity, subjected to a 10% levy.
China is also in the crosshairs, with an additional 10% tariff imposed on its exports, per an executive order issued by the White House. Trump has touted tariffs as a “very powerful weapon” during his press conference, intensifying concerns of retaliatory measures from affected nations.
Canada’s Foreign Minister, Mélanie Joly, has signaled readiness for countermeasures. “We are prepared,” she stated, hinting at a potential escalation in trade hostilities.
These tariffs will impact an estimated $900 billion worth of imports from Canada and Mexico annually. The economic implications are massive, prompting strong reactions from the business community. Ford CEO Jim Farley has warned that these policies could “cripple” U.S. industries reliant on North American supply chains.
Despite acknowledging that higher tariffs may drive up domestic prices, Trump remains resolute. “Tariffs are easy, quick, efficient, and bring fairness,” he proclaimed, dismissing calls for caution.
Crypto Market Drenched in Red
The shockwaves from Trump’s tariff decisions have reverberated across all sectors, particularly the cryptocurrency market. According to Coinglass, all 25 major crypto categories have plunged into the red within the last 24 hours.
The AI Agents category has taken the heaviest blow, sinking by 17.2%, followed by Memecoins, which have collapsed 16.2%, and AI Big Data tokens, which have dropped 15.8%.
Trump’s Call to Farmers: “Get Ready”
In a *Truth Social* post, Trump urged American farmers to ramp up domestic production. “To the Great Farmers of the United States: Get ready to start producing more agricultural goods for sale WITHIN America,” he wrote. “Tariffs on external products begin April 2. Enjoy!”
With uncertainty looming, investors, traders, and businesses alike brace for what could be a prolonged period of volatility. As Trump’s aggressive trade policies unfold, the crypto market’s fate hangs in the balance, leaving many wondering if recovery is on the horizon—or if the worst is yet to come.
