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BTC in Freefall: Trump’s ‘External Agricultural Product’ War Wipes 7% Off Crypto Markets

BTC in Freefall: Trump’s ‘External Agricultural Product’ War Wipes 7% Off Crypto Markets

Bitcoin.comBitcoin.com2025/03/03 22:11
By:Bitcoin.com

Though a prior policy reveal involving crypto reserves propelled assets like BTC and ether upward, the subsequent day told a divergent tale. After hovering just above $93,000 in early trading, BTC abruptly cascaded below $90,000. By afternoon, it stabilized near $87,000 as markets digested Trump’s plan to levy tariffs on foreign farm products starting next month.

The 47th U.S. President proclaimed:

To the Great Farmers of the United States: Get ready to start making a lot of agricultural product to be sold INSIDE of the United States. Tariffs will go on external product on April 2nd. Have fun!

Cryptocurrency markets contracted 6.81% to $2.88 trillion post-announcement, with BTC teetering near $87,000 after its sharp descent. Over $55.74 million in BTC long positions evaporated within an hour, compounding a daily total of $172 million erased.

BTC in Freefall: Trump’s ‘External Agricultural Product’ War Wipes 7% Off Crypto Markets image 0

Trump’s tariff rhetoric has repeatedly rattled BTC valuations, marking the fourth occasion such proclamations have depressed prices. The pattern underscores—er, illuminates—a recurring vulnerability in crypto markets to geopolitical fiscal shifts.

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