Major cryptocurrencies like ether, XRP, and dogecoin experienced a 3% drop following Moody's downgrade of the U.S. credit rating. This decision has shaken investor confidence, impacting both crypto and traditional markets.
As President Trump warns of new tariffs against the EU and Canada, the crypto market faces uncertainty. Bitcoin and altcoins experience fluctuations, while analysts suggest Asian markets may offer new opportunities.
The crypto market suffered significant losses on Friday as XRP and Dogecoin plunged over 10%. This turmoil follows the announcement of fresh U.S. tariffs on China, raising fears of an escalating trade war. Bitcoin dipped to near $79,000, marking a nearly 30% fall since January's peak. With overall market sentiment bearish, traders are anxious about the impact of upcoming economic decisions from China.
