Ether, Memecoins Plunge as Traders Dump Risk After Trump Tariffs.

The article from Bloomberg.com reports that cryptocurrency markets experienced a significant selloff following Donald Trump's announcement of tariffs on major US trading partners. The MVIS CryptoCompare Small-Cap index dropped by 21% in two days, with Ether plunging 27% before recovering slightly. Trump's tariff threats have created uncertainty for traders, impacting both traditional stock markets and the crypto market. Despite previous support for the crypto industry, Trump's recent tariff announcements have led to a sharp decline in digital tokens, with Bitcoin faring better than smaller, more speculative tokens. [Extracted from the article]