On February 3rd, COINOTAG reported insights from BTC Markets CEO Caroline Bowler regarding the current cryptocurrency landscape. Bowler emphasized that Trump’s tariff policy is influencing the broader market, igniting fears of trade wars and a potential recession linked to stagflation. As a consequence, Bitcoin (BTC) has plummeted to approximately $97,000, marking its lowest point in over two weeks. Over the weekend, BTC experienced a noticeable decrease of 4.3%, while Ethereum (ETH) fell by 8%. The altcoin market saw even sharper declines, with Dogecoin (DOGE) tumbling around 14%. Notably, this puts DOGE down 45% from its recent peak following Bitcoin’s surge post-Trump’s election victory on December 8th. Alongside DOGE, other altcoins like XRP, ADA, AVAX, and LINK saw declines exceeding 10%, underscoring the intensified market volatility.
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