This week, the cryptocurrency market experienced a worrisome situation for participants. Bitcoin (BTC) 
plummeted significantly, along with altcoins, influenced by macroeconomic developments in global markets. The announcement of new tariffs by Donald Trump directly impacted the cryptocurrency market, causing concerns among investors.
The Effect of Trump’s Tariffs on the Crypto Market
President Donald Trump announced new tariffs for Mexico, Canada, and China this week. This development heightened fears of a global trade war, resulting in a severe blow to the markets. Bitcoin dropped to around $95,000, while altcoins also experienced significant devaluation. Although Trump declared a 30-day suspension of the new tariffs for Mexico and Canada, the market has yet to recover, leaving investors worried about potential further declines.
Bitcoin Price Chart
Following the tariffs, Trump indicated that reciprocal tariffs would be announced in the following week. Experts caution that these actions could escalate the trade war even further.
The Influence of Whale Activity on Prices
Throughout the week, Bitcoin experienced a decline of approximately 3%, trading at around $97,000. Ethereum (ETH) 
dropped by 14%, reaching $2,600. XRP also suffered a significant loss, decreasing by 14% in just one day, and is on track to close the week below $3. However, the increased activity of whales has sparked some optimism among certain investors.
According to recent data, XRP whales purchased 520 million coins during this downturn, while ETH whales continued their buying spree. Moreover, whale activity has surged in meme coins like PEPE and WIF.
