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The global trade situation is heating up, and the cryptocurrency market has responded with a decline. The risk aversion sentiment caused by new tariff policies is spreading, and the market is in the red.
Latest data from TradingView shows that the total market capitalization of cryptocurrencies plummeted by 1.16% in just 8 hours, falling to $3.1 trillion, with a market value loss of nearly $34 billion. How fierce is this decline? Bitcoin led the drop, briefly breaking through the $93,000 level, with selling pressure continuously intensifying.
The policy shockwave has affected the entire financial market. Not only the crypto space, but the US stock market is also in a downward trend. In contrast, safe-haven assets like gold are experiencing gains — this seesaw situation is a true reflection of the market's risk sentiment shift.
Trade frictions are escalating again, and global investors are re-evaluating risks. Is this crash just a teaser? How the subsequent market will unfold remains to be seen as policy developments continue.