🔴On the morning of March 4, 2025, the cryptocurrency market experienced a sharp decline. Bitcoin (BTC) dropped 9%, trading at $83,387, Ethereum (ETH) fell 11.2%, and Solana (SOL) lost $14.47.
🔴Several factors contributed to the downturn. U.S. President Donald Trump signed tariff hikes on imports from China (up to 20%) and Mexico and Canada (up to 25%). The SEC concluded its investigation into Yuga Labs and other crypto platforms. Meanwhile, the IMF pressured El Salvador to limit Bitcoin usage.
🔴Additionally, FTX and Alameda unlocked 3.03 million SOL, impacting the market. North Korean hackers laundered 499,000 ETH ($1.39 billion) through THORChain.