Ethereum fell over 6% to its lowest level since March 2023.<\/li>\n<\/ul>\nEthereum (ETH-USD), the second-largest cryptocurrency by market capitalization, spearheaded a renewed wave of selling across the digital asset landscape on Wednesday.<\/p>\n
The downturn comes as US President Donald Trump doubled down on his trade war, insisting on enforcing 104% tariffs on numerous Chinese goods, further diminishing hopes that a prolonged and damaging trade conflict could be averted.<\/p>\n
Ethereum tumbled more than 6% to reach its lowest intra-day level since March 2023 before partially recovering to trade at $1,432 as of 9:51 a.m. in Singapore.<\/p>\n
Bitcoin (BTC-USD), the market\u2019s bellwether cryptocurrency, also experienced a decline, dropping more than 3% before regaining some ground, underlining the broad-based nature of the market downturn.<\/p>\n
Tariff uncertainty dampens sentiment: a broader market pullback<\/h2>\n
Trump and top administration officials signaled on Tuesday that the US was open to potential dealmaking that could reduce or eliminate the higher tariffs imposed on dozens of nations, creating a brief glimmer of optimism.<\/p>\n
However, Asian stocks sank, and wider financial markets were once again roiled as the president intensified pressure on China.<\/p>\n
This whiplash effect has left investors wary and contributed to the risk-off sentiment across asset classes.<\/p>\n
\u201cPeople have given up\u201d: crypto recovery hopes fade<\/h2>\n
\u201cIt seems like people have given up on a major recovery in crypto in the first half of the year,\u201d Sean McNulty, head of APAC derivatives at digital-asset prime brokerage FalconX, told Bloomberg, reflecting the growing pessimism among market participants.<\/p>\n
McNulty noted a surge in put options activity, with investors buying downside protection for Ether and Solana overnight, signaling a defensive positioning.<\/p>\n
He also added that the next key support level for Bitcoin is around $65,000, highlighting the potential for further price declines if the sell-off continues.<\/p>\n
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Ethereum leads fresh crypto selloff amid Trump\u2019s trade war. Trump\u2019s insistence on tariffs dims hopes of avoiding a trade conflict. Ethereum fell over 6% to its lowest level since March 2023. Ethereum (ETH-USD), the second-largest cryptocurrency by market capitalization, spearheaded a renewed wave of selling across the digital asset landscape on Wednesday. The downturn comes […]<\/p>\n","protected":false},"author":2,"featured_media":390530,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-390762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/390762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=390762"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/390762\/revisions"}],"predecessor-version":[{"id":390763,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/390762\/revisions\/390763"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/390530"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=390762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=390762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=390762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}