Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    US DoJ reportedly considering fraud charges against Binance to minimize impact

    August 3, 2023

    CrunchDAO: How Decentralized AI is Democratizing Advanced Data Analysis for Global Companies

    August 14, 2025

    Activity Dips Despite Market Developments

    February 7, 2024
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Binance Sees Massive Ethereum Whale Outflows: Demand Remains Strong

      September 5, 2025

      SUI Coin Price Prediction 2025

      September 4, 2025

      Sonic price prediction 2025, 2026, 2027-2031

      September 3, 2025

      Crypto Exchange Gemini Shares IPO Details, Aims to Raise $317M

      September 2, 2025

      Japanese gaming firm Gumi bets $17 mln on XRP, skips Ethereum: Here’s why

      September 1, 2025
    • Technology

      Will Dogecoin’s price crash to $0.05 as investors abandon memes for utility?

      September 5, 2025

      Japan Post Bank To Give Digital Yen Access To $1.3T Deposits

      September 4, 2025

      Can $0.23 hold after volatile Trump token launch?

      September 3, 2025

      Solana Set to Approve Alpenglow, Slashing Finality to 150ms

      September 1, 2025

      Philippines May Become First Country to Put Entire National Budget on Blockchain

      August 31, 2025
    • Learn/Guide

      Bitcoin, altcoins tumble as weak job numbers stoke recession fears

      September 5, 2025

      NEAR and TRON enable seamless cross-chain stablecoin transfers with NEAR Intents integration

      September 4, 2025

      Fed to host October conference on stablecoins, DeFi, AI, and tokenization

      September 3, 2025

      Pineapple Financial launches $100M Injective treasury, first public company to hold INJ

      September 2, 2025

      Hong Kong University’s business school considers accepting Bitcoin for tuition and donations

      August 31, 2025
    • NFTs

      Slimesunday’s Magnum Opus: ‘Banned from New York’ Blows the Lid Off Digital Censorship | NFT CULTURE | NFT News | Web3 Culture

      July 22, 2025

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025
    • Regulation

      SEC Rule Change Pushes U.S. Bancorp to Restart Crypto Custody

      September 5, 2025

      ECB President Calls for Stronger Regulation of Non-EU Stablecoins

      September 4, 2025

      KuCoin Taps Vietnam’s VBA in Push for 2025 Blockchain Strategy

      September 3, 2025

      Crypto Investors Face New Rules as South Korea Joins OECD’s Reporting System

      September 2, 2025

      Japan Post Bank to Roll Out Yen-Backed Digital Currency in 2026

      September 1, 2025
    • Business

      Metaplanet Is About to Drop $881M Into Bitcoin, Here’s the Timeline

      August 27, 2025

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » Bitcoin sinks, altcoins dip as Trump stirs recession fears amid rising trade conflict
    Learn/Guide

    Bitcoin sinks, altcoins dip as Trump stirs recession fears amid rising trade conflict

    March 10, 20254 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Bitcoin sinks, altcoins dip as Trump stirs recession fears amid rising trade conflict
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Key Takeaways

    • Bitcoin and altcoins plunge amid growing economic uncertainty.
    • Market reactions remain tepid as the Strategic Bitcoin Reserve will not involve new government purchases for now.

    Share this article







    Fears of a looming recession, coupled with escalating trade tensions between the US and Canada, triggered Bitcoin price drops and altcoin sell-offs on Sunday night.

    Speaking on Fox News’ Sunday Morning Futures, Trump avoided directly addressing recession possibilities in 2025, saying he hated predicting “things like that.” He emphasized his economic policies aim to bring wealth back to America, though the transition may take time.

    Trump’s tariffs on imports from countries like Canada, Mexico, and China have been a source of market volatility. Despite this, the US President defended his approach as necessary for achieving his economic goals.

    Also on March 9, Mark Carney, a former governor of the Bank of Canada, won the Liberal Party leadership election, replacing Justin Trudeau as Canada’s prime minister.

    The new prime minister-elect went off on Trump in his first speech, stating that Trump won’t succeed in his trade war with Canada.

    “America is not Canada. And Canada never, ever, will be part of America in any way, shape or form,” Carney said. Trump has repeatedly referred to Trudeau as the “Governor” of Canada, suggesting that Canada would be better off as the 51st U.S. state.

    “My government will keep our tariffs on until the Americans show us respect,” he said. Canada has imposed 25% tariffs on US consumer goods in retaliation to Trump’s tariffs.

    Bitcoin fell below $81,000 following Carney’s victory, according to CoinGecko data. At press time, BTC recovered slightly above $82,000, down 4% in the last 24 hours.

    Market turmoil deepened as Bitcoin declined. Ether and XRP each shed more than 6%, while Dogecoin dropped over 10%.

    Other top coins like BNB, Solana, Cardano, and TRON also saw significant losses, while lower-cap tokens such as Injective, Maker, and Render experienced double-digit drops.

    The total crypto market capitalization decreased 6% to $2.8 trillion within a day. Leveraged liquidations reached $600 million, with approximately $530 million in long positions eliminated, according to Coinglass data.

    The Atlanta Federal Reserve’s GDPNow model has revised its forecast for the first quarter of 2025, predicting a GDP contraction of 2.4%. This downward revision reflects weaker-than-expected consumer spending and a widening trade deficit, raising concerns about a potential recession.

    Market reaction to Trump’s Bitcoin reserve: A mixed bag

    The market turbulence continued after Trump’s Thursday executive order establishing a Strategic Bitcoin Reserve, which initially sparked selling pressure due to limited details about funding beyond existing US-held Bitcoin.

    US Treasury Secretary Scott Bessent said Friday that discussions are underway about additional BTC acquisitions, but the first step is to halt the sale of seized Bitcoin.

    He also noted that while the current focus is on Bitcoin, the broader strategy is to establish a comprehensive crypto reserve.

    While some analysts view the reserve’s creation as formal recognition of Bitcoin’s role as a strategic asset, positioning it alongside traditional reserves like gold, this recognition has not translated into immediate market confidence.

    Crypto community members also had mixed reactions to the White House Crypto Summit held after the executive order.

    Speaking at the event, Chainlink co-founder Sergey Nazarov expressed optimism that US officials are now actively engaging with the blockchain and crypto industry, which he believes could help the country stay at the forefront of financial innovation.

    “Me and other people in the room do believe that the crypto, blockchain, Web3 infrastructure is the next iteration of the financial system,” Nazarov said. “And I think that the US should have its leadership position continue in that new financial system.”

    Multicoin Capital managing partner Kyle Samani also viewed the event positively, labeling it a “historic moment” for crypto.

    In contrast, Coin Bureau CEO Nic Puckrin and Bitcoin maximalist Justin Bechler expressed disappointment, questioning the summit’s impact and criticizing its approach.

    Share this article









    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Bitcoin, altcoins tumble as weak job numbers stoke recession fears

    September 5, 2025

    NEAR and TRON enable seamless cross-chain stablecoin transfers with NEAR Intents integration

    September 4, 2025

    Fed to host October conference on stablecoins, DeFi, AI, and tokenization

    September 3, 2025

    Pineapple Financial launches $100M Injective treasury, first public company to hold INJ

    September 2, 2025
    Top Posts

    Bitcoin Marked For Death Cross: What Data Says About The Ominous Signal

    September 13, 2023

    Crypto Portfolio Management: The Ultimate Risk Guide!

    August 26, 2023

    Bitcoin Remains on Top as Altcoin Season Fails to Materialize

    August 26, 2024

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    Binance Sees Massive Ethereum Whale Outflows: Demand Remains Strong

    September 5, 2025

    SUI Coin Price Prediction 2025

    September 4, 2025

    Sonic price prediction 2025, 2026, 2027-2031

    September 3, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.