#ETH Crypto Assets market update: February 4, 2025 🧐

Market Overview
As of February 4, 2025, the Cryptocurrency market is experiencing a significant decline due to recent geopolitical developments.
• Bitcoin (BTC): currently trading at a price of $98,758.00, up 3.66% from the previous trading day. The highest price reached $102,591.00, and the lowest price was $94,258.00.
• Ethereum (ETH): The current price is $2,718.39, up 5.70% from the previous closing price. The highest price of the day is $2,902.81, and the lowest price is $2,545.07.
• Solana (SOL): worth $206.67, experienced a 5.63% growth. The highest and lowest during the day were $219.40 and $191.04, respectively.
• XRP: The trading price is $2.54, up 7.17%, with a highest price of $2.78 and a lowest price of $2.24 for the day.
• Dogecoin (DOGE): Priced at $0.2655, up 6.04%. The highest price of the day was $0.2920, and the lowest price was $0.2436.
Impact of Trump's tariffs on the cryptocurrency market
President Trump recently announced tariffs on imported goods from Mexico, Canada, and China, which has caused significant volatility in the Crypto Assets market. Investors are concerned that this trade tension may lead to broader economic instability, triggering a shift from high-risk assets, including Crypto Assets.
In the past 24 hours, Bitcoin has dropped by about 4% to around $95,800. Ethereum has experienced a larger decline, approximately 17%, dropping to $2,590, while XRP has dropped by 18% to $2.38. The total market capitalization of the cryptocurrency market has decreased by 9%, currently standing at approximately $3.2 trillion.
Analysts attribute these declines to increased market uncertainty stemming from new tariffs. The potential risks of increased commodity costs and supply chain disruptions are prompting investors to reevaluate their holdings in high-risk assets. Tariffs effective from February 1, 2025, impose a 25% tariff on imports from Canada and Mexico, and a 10% tariff on goods from China.
Market Dynamics
The imposition of tariffs has not only affected the traditional financial market, but also had a significant impact on the cryptocurrency industry. The interconnection of the global economy means that policy changes in one region can have ripple effects across various asset classes. In this case, tariffs have led to a reevaluation of risks, and many investors choose to liquidate cryptocurrency positions to reduce potential losses.
Conclusion
The cryptocurrency market is very sensitive to geopolitical developments. The recent tariffs introduced by the Trump administration have highlighted the vulnerability of digital assets to external economic policies. Investors should closely monitor these developments and consider a broader economic background when making investment decisions.
#Golden Snake Brings Fortune: $50,000 in Rewards #Which Altcoin Have You Bought Recently? #Which Sectors Are You Watching in 2