#Bitcoin #Cryptocurrency #CryptoMarket #TrumpAdministration #USCryptoReserve #TradeWar<\/p>\n\n\n\n
Bitcoin\u2019s value plummeted by nearly 10% on Monday, March 3, as concerns over a growing trade war and uncertainty surrounding a proposed US cryptocurrency reserve fund rattled investors.<\/p>\n\n\n\n
Following President Donald Trump\u2019s remarks about establishing a national cryptocurrency reserve, Bitcoin and other digital assets initially surged. However, doubts about whether the plan would materialize triggered a sharp sell-off.<\/p>\n\n\n\n
“Everything is getting sold,” said Adam Button, manager at Forexlive. “There\u2019s a de-risking that\u2019s unfolding among crypto investors.”<\/p>\n\n\n\n
By late Monday, Bitcoin had fallen 9.47% to $85,321.69, with the overall cryptocurrency market valued at more than a trillion dollars.<\/p>\n\n\n\n
Ethereum, the second-largest digital asset, experienced an even steeper drop, losing over 15% of its value. Other major cryptocurrencies, including XRP, Cardano, and Solana, tumbled by nearly 20%.<\/p>\n\n\n\n
Market sentiment was further weighed down by Trump\u2019s announcement of 25% tariffs on all imports from Mexico and Canada, both of which have vowed to retaliate. Analysts believe the escalating trade conflict is amplifying concerns about weakening US economic growth.<\/p>\n\n\n\n
Cryptocurrency prices initially climbed on Monday after Trump named five digital currencies\u2014Bitcoin, Ethereum, XRP, Cardano, and Solana\u2014as potential assets for a proposed US national strategic reserve fund.<\/p>\n\n\n\n
The plan involves using digital assets already in US possession, including those seized in legal cases or frozen due to sanctions.<\/p>\n\n\n\n
However, industry experts have expressed skepticism about the selection of cryptocurrencies. Coinbase CEO Brian Armstrong suggested that restricting the reserve to Bitcoin would be the most prudent choice. “It\u2019s the simplest, and there\u2019s the idea that it could be a successor to gold,” Armstrong stated in a post on X.<\/p>\n\n\n\n
Despite Trump\u2019s endorsement of the reserve fund, skepticism remains about its viability. “Everyone started buying after Trump mentioned it, but then they wondered if it was really going to happen,” Button explained.<\/p>\n\n\n\n
For the proposal to become reality, it would need approval from Congress. “It\u2019s one thing to tweet about it, but you need legislation to make this happen,” Button added. “And that\u2019s still a long shot.”<\/p>\n","protected":false},"excerpt":{"rendered":"
#Bitcoin #Cryptocurrency #CryptoMarket #TrumpAdministration #USCryptoReserve #TradeWar Bitcoin Drops Nearly 10% as Investors Flee Risk Bitcoin\u2019s value plummeted by nearly 10% on Monday, March 3, as concerns over a growing trade war and uncertainty surrounding a proposed US cryptocurrency reserve fund rattled investors. Following President Donald Trump\u2019s remarks about establishing a national cryptocurrency reserve, Bitcoin and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"saved_in_kubio":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1474","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/sportpro.cc\/index.php?rest_route=\/wp\/v2\/posts\/1474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sportpro.cc\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sportpro.cc\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sportpro.cc\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sportpro.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1474"}],"version-history":[{"count":1,"href":"https:\/\/sportpro.cc\/index.php?rest_route=\/wp\/v2\/posts\/1474\/revisions"}],"predecessor-version":[{"id":1475,"href":"https:\/\/sportpro.cc\/index.php?rest_route=\/wp\/v2\/posts\/1474\/revisions\/1475"}],"wp:attachment":[{"href":"https:\/\/sportpro.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sportpro.cc\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sportpro.cc\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}