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#Tradingtipsforvolatility #Fedratecutexpectationsheatup
Trump's statements hit Bitcoin and altcoins: These are the words that brought about a decline.
Trump's harsh statements against China shook the markets, with American stock markets and cryptocurrencies experiencing sharp declines.
Following US President Donald Trump's statements about China, both stocks and cryptocurrencies experienced sharp declines.
Noting that China has taken a very hostile stance, Trump said he was considering a major tariff increase on Chinese imports. The US President explained this as retaliation for China's new restrictions on rare earth exports.
Trump also stated in a separate social media post that he might cancel his planned meeting with Chinese President Xi Jinping.
Trump's harsh statements against China caused significant declines in American stock markets and cryptocurrencies. Meanwhile, Bitcoin, which traded above $122,000, quickly fell below $116,000. Altcoins, particularly Ethereum, experienced even deeper losses.
Trump's remarks sent a hurricane through the markets, with nearly $800 million in leveraged crypto positions being closed with losses. Data shows that more than 200,000 investors suffered losses during this period.