Donald Trump’s regulatory policy has crashed the cryptocurrency market

The cryptocurrency market came under pressure after U.S. President Donald Trump introduced a bill that would impose duties of up to 500% on goods from countries that continue to trade with Russia — especially buying Russian oil and gas. The initiative caused a sharp reaction from investors and fears of a new Bitcoin collapse BTC $69,049.43 Mezo Wrapped BTC -1.48% Market capitalization $39.12 million VOL. 24 hours $1.29 billion .

According to Republican Senator Lindsey Graham, one of the authors of the bill, the aim of the initiative is to cut off financial flows to Moscow: «If you buy from Russia and don’t support Ukraine, your goods will be subject to a 500% duty.» Trump himself said that the US is preparing «very tough sanctions» against countries that do business with Russia.

After the announcement of the duties, the crypto market reacted with a panic sale. In just one day, positions worth $ 620 million were liquidated, and more than 152,000 traders lost their assets. The largest liquidation was a $ 30.6 million BTC-USD trade on Hyperliquid. Bitcoin fell below $ 94,000, Ethereum ETH $1,965.99 Bridged Ether (StarkGate) -5.62% Market capitalization $44.58 million VOL. 24 hours $1.39 billion dropped back to $ 3,000, and XRP, Solana SOL $86.17 Binance-Peg SOL -1.79% Market capitalization $95.27 million VOL. 24 hours $0.33 billion , and Cardano ADA $0.28 Binance-Peg Cardano -4.37% Market capitalization $0.13 billion VOL. 24 hours $48.68 million also experienced sharp fluctuations.

Analysts at CoinPedia warn that the market could drop by another 10−20% if the new duties take effect. A similar situation has already occurred during trade conflicts between the US and China, when the crypto market lost more than $ 200 billion in just a few days.

Although the final decision of Congress has not yet been made, investors fear that political uncertainty and global trade risks could trigger a deeper phase of the bear market for digital assets.