Bitcoin and Ethereum Decline as Tariff Concerns Outweigh Interest Rate Cut Optimism

The cryptocurrency market experienced a notable downturn, with both Bitcoin and Ethereum seeing significant price declines. Analysts attribute this drop to growing concerns about the impact of newly implemented tariffs on the global economy, overshadowing previous hopes regarding potential interest rate cuts by central banks. This combination of factors has led to widespread selling of digital assets, as investors appear to be shifting towards safer havens amid the current uncertainty. Furthermore, some negative news pertaining to certain cryptocurrency exchanges has contributed to the situation, adding further pressure on prices. The market is closely monitoring global economic and political developments for any signs that may indicate the future direction of the market.