China’s Tariffs Impact Crypto Market Volatility
- Crypto majors surged up to 20% before reversing within 24 hours.
- XRP, Dogecoin (DOGE), Solana’s SOL, and Cardano’s ADA increased nearly 3%.
- Bitcoin (BTC) and Ether (ETH) rose by almost 4%.
- China announced a retaliatory 10% tariff on the U.S., affecting risk assets.
- A $2.2 billion liquidation event occurred on Monday, sparking a buy-the-dip strategy.
The crypto market experienced significant volatility as major cryptocurrencies initially surged up to 20%, with XRP, DOGE, SOL, and ADA increasing nearly 3%, and BTC and ETH rising by almost 4%. However, gains were reversed following China’s announcement of a retaliatory tariff on the U.S.
Source (2.6)https://www.coindesk.com/markets/2025/02/04/xrp-and-dogecoin-surged-20-then-dipped-as-china-tariffs-dent-crypto-rebound?rand=52298
