The global encryption market took a sharp shrinkage on August 1, as it decreased about 6 % in 24 hours, as investor morale was strained amid the escalation of trade tensions between the United States, speech and unconfirmed policy of the Federal Reserve.
The sales surveyed billions of encryption reviews, as Bitcoin fell to $ 114322 and more than $ 577 million in long centers, according to Coinglass data.
BTC's price records a slight decline on the daily chart. Source: BTCUSD on Tradingview
Trump’s tariff causes encryption panic
President Donald Trump’s announcement of the aggressive new tariff, which ranges from 10 % to 50 % on imports from more than 60 countries, amazing global markets.
Canada was exposed to a rate of 35 % very slope, while Southeast Asian countries such as Laos and Myanmar have witnessed a 40 % tariff tariff, which led to a wider trade war. Investors rushed to reduce exposure to high -risk assets, and send both shares and cryptocurrencies.
Soon, Cryptos, which initially benefited from organizational clarity expectations, south, where the total economic uncertainty overwhelmed optimism. The federal reserve position to maintain rates, indicating a potential economic recession, weakened confidence in digital assets.
Huge strikes hit bitcoin and ethereum
Encryption accident has been intensified through excessive situations. Ethereum led the liquidation balance for $ 168.9 million, while Bitcoin has seen $ 144 million in long positions eliminated.
Merchants were forced to get out collectively, which led to a series of sales orders that accelerated the decline. Altcoins also recorded such as Solana (SOL), Cardano (Ada) and Dogoin (DOGE) losses between 5 % and 8 %.
Pudgy (PenGu) and SUI (SUI) were among the most difficult, as they decreased by 14 % and 10 %, respectively, due to the distinctive internal code movements and derivative liquidation, which increases the market stress.
Regulatory and economic opposite winds
The sale shows how the encryption remains deeply linked to global financial trends. As inflation interests and interest rate pressures increase, analysts warn of more fluctuations unless Bitcoin recovers support above $ 116,000.
Attention is now turning into the upcoming US job data, which can affect whether the Federal Reserve is inclined at the next policy meeting. Currently, digital assets are traded similar to traditional risk assets, indicating the market’s need for clearer regulation and economic stability.
Image coverage of Chatgpt, BTCUSD Chart from TradingView
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