Cryptocurrencies faced significant pressure on Saturday as market instability lingered following recent U.S. tariff threats.
This turbulence in the market stems from an executive order enacted by President Donald Trump on January 31, which imposed tariffs on imports from Mexico, Canada, and China. While tariffs on Mexico and Canada are currently suspended, the announcement has unsettled investors, triggering sell-offs across both stock markets and digital assets.
Compounding the situation, the crypto sector has been inundated with more than 700 fraudulent tokens exploiting Trump’s name, which has further diminished investor confidence and increased market volatility.
Additionally, speculations surrounding the potential launch of a token by Kanye West have failed to generate substantial market activity.
Despite the recent downturn, market analysts suggest that the future direction of the cryptocurrency landscape will heavily depend on the potential escalation of tariff threats and how investors respond to the ongoing regulatory uncertainty surrounding new meme coins.
Here’s a snapshot of major cryptocurrencies as of 10:30 a.m. EST:
| CRYPTOCURRENCY | PRICE | 7-DAY GAINS +/- |
| Bitcoin (BTC) | $95,988 | -5.8% |
| Ethereum (ETH) | $2,609 | -19.4% |
| Solana (SOL) | $194.06 | -14.2% |
| XRP (XRP) | $2.41 | -18.9% |
| Dogecoin (DOGE) | $0.2496 | -22.4% |
| Shiba Inu (SHIB) | $0.00001561 | -15.4% |
