{"id":839050,"date":"2025-04-04T17:12:14","date_gmt":"2025-04-04T22:12:14","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/04\/bitcoin-sinks-xrp-ada-doge-dip-as-trump-stirs-recession-fears-amid-rising-trade-conflict\/"},"modified":"2025-04-04T17:12:14","modified_gmt":"2025-04-04T22:12:14","slug":"bitcoin-sinks-xrp-ada-doge-dip-as-trump-stirs-recession-fears-amid-rising-trade-conflict","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/04\/bitcoin-sinks-xrp-ada-doge-dip-as-trump-stirs-recession-fears-amid-rising-trade-conflict\/","title":{"rendered":"Bitcoin sinks, XRP, ADA, DOGE dip as Trump stirs recession fears amid rising trade conflict"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div data-id=\"165543\" data-url=\"https:\/\/cryptobriefing.com\/bitcoin-drops-trump-stirs-recession-fears\/\">\n<section>\n<div>\n<p><a href=\"https:\/\/cryptobriefing.com\/markets\/\" rel=\"tag\"><br \/>\n                    Markets                <\/a>\n                    <\/p>\n<\/div>\n<p><span><span><a href=\"https:\/\/cryptobriefing.com\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/cryptobriefing.com\/markets\/\">Markets<\/a><\/span> \u00bb <span aria-current=\"page\">Bitcoin sinks, altcoins dip as Trump stirs recession fears amid rising trade conflict<\/span><\/span>        <\/p>\n<div>\n<div>\n<p><span>by<\/span><\/p>\n<div>\n<p><a data-author_id=\"29816\" href=\"https:\/\/cryptobriefing.com\/team\/vivian-nguyen\/\" rel=\"author\">Vivian Nguyen<\/a><\/p>\n<\/div><\/div>\n<p><time datetime=\"2025-03-10T05:02:50+00:00\"><br \/>\n                        Mar. 10, 2025                    <\/time>\n                            <\/p>\n<\/p><\/div>\n<\/section>\n<section>\n<h2>Bitcoins Analysts remain skeptical of government&#8217;s BTC plan.<\/h2>\n<\/section>\n<section>\n            <picture><source media=\"(min-width: 850px)\" ><img decoding=\"async\" src=\"http:\/\/cryptobriefing.com\/2a252536-d1b9-4426-a727-b504bc488e9c.jpg\" alt=\"bitcoins Bitcoin sinks, XRP, ADA, DOGE bleed as Trump stirs recession fears amid rising trade conflict\" title=\"bitcoins http:\/\/cryptobriefing.com\/2a252536-d1b9-4426-a727-b504bc488e9c.jpg\">\n            <\/picture>\n        <\/section>\n<section>\n<section>\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>Bitcoin and altcoins plunge amid growing economic uncertainty.<\/li>\n<li>Market reactions remain tepid as the Strategic Bitcoin Reserve will not involve new government purchases for now.<\/li>\n<\/ul>\n<\/section>\n<section>\n<p>Share this article<\/p>\n<\/section>\n<p>        <?xml encoding=\"UTF-8\"><\/p>\n<p>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.<\/p>\n<p>Speaking on Fox News\u2019 Sunday Morning Futures, Trump avoided directly addressing recession possibilities in 2025, saying he hated predicting \u201cthings like that.\u201d He emphasized his economic policies aim to bring wealth back to America, though the transition may take time.<\/p>\n<p>Trump\u2019s 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.<\/p>\n<p>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\u2019s prime minister.<\/p>\n<p>The new prime minister-elect went off on Trump in his first speech, <a target=\"_blank\" href=\"https:\/\/www.politico.com\/news\/2025\/03\/09\/canadas-liberals-pick-mark-carney-to-replace-justin-trudeau-00220148\" rel=\"noopener nofollow noreferrer\">stating<\/a> that Trump won\u2019t succeed in his trade war with Canada.<\/p>\n<blockquote>\n<p>\u201cAmerica is not Canada. And Canada never, ever, will be part of America in any way, shape or form,\u201d Carney said. Trump has repeatedly referred to Trudeau as the \u201cGovernor\u201d of Canada, suggesting that Canada would be better off as the 51st U.S. state.<\/p>\n<\/blockquote>\n<blockquote>\n<p>\u201cMy government will keep our tariffs on until the Americans show us respect,\u201d he said. Canada has imposed 25% tariffs on US consumer goods in retaliation to Trump\u2019s tariffs.<\/p>\n<\/blockquote>\n<p>Bitcoin fell below $81,000 following Carney\u2019s victory, according to CoinGecko <a target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" rel=\"noopener nofollow noreferrer\">data<\/a>. At press time, BTC recovered slightly above $82,000, down 4% in the last 24 hours.<\/p>\n<p>Market turmoil deepened as Bitcoin declined. Ether and XRP each shed more than 6%, while Dogecoin dropped over 10%. <\/p>\n<p>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.<\/p>\n<p>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 <a target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LiquidationData\" rel=\"noopener nofollow noreferrer\">data<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2025\/03\/10002947\/Leveraged-liquidations-reached-600-million.png\"><noscript><img decoding=\"async\" src=\"https:\/\/static.cryptobriefing.com\/wp-content\/uploads\/2025\/03\/10002947\/Leveraged-liquidations-reached-600-million.png\"><\/noscript><figcaption><\/figcaption><\/figure>\n<p>The Atlanta Federal Reserve\u2019s 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.<\/p>\n<h2>Bitcoins Market reaction to Trump\u2019s Bitcoin reserve: A mixed bag<\/h2>\n<p>The market turbulence continued after Trump\u2019s Thursday executive order <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/trump-strategic-bitcoin-reserve\/\" rel=\"\">establishing a Strategic Bitcoin Reserve<\/a>, which initially sparked selling pressure due to limited details about funding beyond existing US-held Bitcoin.<\/p>\n<p>US Treasury Secretary Scott Bessent <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/us-strategic-bitcoin-reserve-plans\/\" rel=\"\">said<\/a> Friday that discussions are underway about additional BTC acquisitions, but the first step is to halt the sale of seized Bitcoin.<\/p>\n<p><html><body><\/p>\n<div class=\"ad-banner mrec-in-article\"><\/div>\n<p><\/body><\/html><\/p>\n<p>He also noted that while the current focus is on Bitcoin, the broader strategy is to establish a comprehensive crypto reserve.<\/p>\n<p>While some analysts view the reserve\u2019s creation as formal recognition of Bitcoin\u2019s role as a strategic asset, positioning it alongside traditional reserves like gold, this recognition has not translated into immediate market confidence.<\/p>\n<p>Crypto community members also had mixed reactions to the White House Crypto Summit held after the executive order.<\/p>\n<p>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.<\/p>\n<blockquote>\n<p>\u201cMe and other people in the room do believe that the crypto, blockchain, Web3 infrastructure is the next iteration of the financial system,\u201d Nazarov said. \u201cAnd I think that the US should have its leadership position continue in that new financial system.\u201d<\/p>\n<\/blockquote>\n<p>Multicoin Capital managing partner Kyle Samani also viewed the event positively, labeling it a \u201chistoric moment\u201d for crypto.<\/p>\n<p>In contrast, Coin Bureau CEO Nic Puckrin and Bitcoin maximalist Justin Bechler expressed disappointment, questioning the summit\u2019s impact and criticizing its approach.<\/p>\n<\/p>\n<section class=\"article-share\">\n<p>Share this article<\/p>\n<div class=\"social-icons\">\n          <button class=\"social-icon share\" data-href=\"https:\/\/x.com\/intent\/tweet?text=Bitcoin+sinks%2C+altcoins+dip+as+Trump+stirs+recession+fears+amid+rising+trade+conflict&#038;url=https%3A%2F%2Fcryptobriefing.com%2Fbitcoin-drops-trump-stirs-recession-fears%2F&#038;via=crypto_briefing\" aria-label=\"Share on x\"><br \/>\n        <?xml version=\"1.0\" encoding=\"UTF-8\"?><br \/>\n                <svg width=\"40px\" height=\"40px\" viewBox=\"0 0 40 40\" version=\"1.1\" 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Key Takeaways Bitcoin and altcoins plunge amid growing economic uncertainty. Market reactions remain tepid as the Strategic Bitcoin Reserve will not involve new government<\/p>\n","protected":false},"author":1,"featured_media":839051,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,23750],"tags":[11476],"class_list":["post-839050","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-sinks","tag-bitcoins"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=839050"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/839051"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=839050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=839050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=839050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}