Donald Trump, the US President, has escalated his trade war by imposing heavy tariffs on imports from Canada, Mexico, and China, causing the digital currency market to hit its lowest level in 2025. Meanwhile, Jerome Powell, the Federal Reserve Chairman, announced that policymakers have no rush to lower interest rates and will maintain it in the range of 4.25 to 4.5 percent. He also emphasized the need for a broader regulatory framework for the crypto market and urged banks not to deprive digital currency customers of banking services. Additionally, the release of key labor market data in the coming week could influence investor sentiment. On Tuesday, the release of the ISM Manufacturing PMI index will show the country’s manufacturing sector status. On Wednesday, the JOLTS report on job opportunities will be published, and on Thursday, data related to non-farm employment will be released. Furthermore, the employment report on Friday will show the number of jobs created in the past month and the unemployment rate. Financial reports of some major companies, including Alphabet (Google), PayPal, AMD, Amazon, and MicroStrategy, will also be released next week. The total value of the digital currency market has dropped by 12% in the past 24 hours, with over $450 billion exiting the space. This sharp decline marks the largest drop since mid-December, returning the market to mid-November levels. Bitcoin plummeted to $91,500 in Monday morning trading, its lowest level in the past three weeks. Ethereum also returned to less than $2,500 after losing three months of gains. Meanwhile, Ripple (XRP) dropped by 27% in a few hours, reaching $2. Other notable digital currencies such as Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), Stellar (XLM), Avalanche (AVAX), Sushi (SUI), and TON experienced over 20% price declines. You can check the live and real-time prices of all tokens and cryptocurrencies on the momentary price page of digital currencies.
