Crypto Carnage: Ethereum Plunges as Trump's Trade Tensions Spark Market Meltdown

Ether, the second-largest cryptocurrency by market capitalization, spearheaded another dramatic downturn in the digital asset market. The sell-off was triggered by escalating trade tensions, as US President Donald Trump signaled his intention to impose staggering 104% tariffs on numerous Chinese goods, effectively shattering hopes of averting a potentially devastating trade war.
The cryptocurrency market, already volatile and sensitive to global economic shifts, reacted swiftly to the president's aggressive trade stance. Investors and traders watched nervously as Ether led the charge in a widespread sell-off, reflecting the growing uncertainty and risk aversion in both traditional and digital financial markets.
This latest development underscores the intricate relationship between geopolitical tensions and cryptocurrency valuations, highlighting how macroeconomic policies can instantaneously impact digital asset prices and investor sentiment.