Bitcoin Plunges 10% as Trump Tariffs Spark Market Uncertainty
1min read Bitcoin, the world's leading cryptocurrency, experienced a significant drop of 10.49% on March 4, as markets reacted to President Trump's announcement of U.S. tariffs on Mexico and Canada. This news sparked considerable uncertainty, with the three major U.S. stock indices - the Dow Jones, S&P 500, and Nasdaq - all registering substantial declines. The tech sector was particularly hard hit, with nvidia falling by 8.69%.
The cryptocurrency market mirrored these fluctuations, with Bitcoin temporarily spiking to $95,000 before plummeting to $83,384, a drop of 10.49%. Ethereum also suffered, plunging 16.83% to a new low of $2,038. The looming tariff implications have exacerbated fears of economic stagnation, reflected in the U.S. dollar index's drop by 1% and a subsequent rise in gold prices amidst increased risk aversion.
In response to these turbulent times, 4E, a financial platform facilitating various asset trading, has launched a new financial product pegged to the USDT stablecoin. This product offers an enticing 8% annualized return rate, providing investors with a potential hedging strategy amidst market volatility.
