PANews reported on February 3rd that according to Bloomberg, as Trump announced the imposition of tariffs, investors withdrew from the crypto market, causing some of the more speculative digital assets to plummet. In last Sunday's trading, Bitcoin fell by as much as 4.3%, ETH fell by 8%, and the selling pressure on altcoins was even more intense. For example, DOGE fell by about 14% during the trading session, down 45% from the high point on December 8 last year after Trump's victory stimulated a rebound in digital assets; altcoins such as XRP, ADA, AVAX and LINK all fell by more than 10%.

Caroline Bowler, CEO of BTC Markets, said, “Trump’s tariff war is affecting the entire market, and concerns about a trade war and stagflation-induced recession are spreading to altcoins and Bitcoin markets.”