A brief depeg of the Trump-backed USD1 stablecoin and fresh regulatory discussions in the US and South Korea added further pressure to market sentiment.
Crypto prices today are falling fast as a wave of panic triggered by the new US regulatory development hit the global market. Bitcoin is down to the $63,000 levels. Most altcoins have followed suit, trading in the red zone. The global market cap plunged 1.54% to $2.19 trillion at press time. The main reason for this drop is the latest Trump tariff levy of 15%.
We have moved from a crypto-friendly regime in the US that promised a ‘golden age’ for digital assets to an era where erratic trade rules are doing the most damage. Many feel this same industry helped Donald Trump win the 2024 Presidential election. Now, it seems to have become a personal tool for gain for the US presidential family rather than a public interest.
If Trump’s ego continues to drive these tariff threats, the dreams of millions of retail investors could be ruined. We already watched Bitcoin lose its grip on the vital $66,000-$67,000 support zone. With the US pressure continuing, is a return to the painful $50,000 level now close?
Let’s explore the crypto news today impacting the market and prices based on , to answer the above-mentioned question.
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