Bitcoin and Ether Hit Two-Week Lows Amid Tariff Concerns
- Bitcoin (BTC) and Ether (ETH) retested their lowest levels in over two weeks, influenced by US President Donald Trump’s tariff threats.
- The total cryptocurrency market capitalization fell to $2.71 trillion, down from nearly $3 trillion the previous week.
- The S&P 500 index decreased by 1.9%, while gold prices reached an all-time high on Tuesday.
- Yields on the US Treasury’s five-year bonds surged to their highest in six months, indicating rising recession fears.
- Bitcoin’s market cap stands at $1.8 trillion, ranking it as the eighth-largest global tradable asset.
Investor sentiment has shifted towards caution as geopolitical tensions rise, particularly with tariff discussions impacting both crypto and stock markets. The decline in total cryptocurrency market capitalization reflects broader economic uncertainties and investor risk aversion.
As Bitcoin and Ether struggle to maintain their positions, the total cryptocurrency market capitalization is now down by approximately 32% from its all-time high reached in October.
