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The crypto market continues to stumble as Trump declines to rule out potential recession this year

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Trump tells Fox News that the country will experience a "period of transition."
The cryptocurrency market experienced a significant downturn on March 10, 2025, influenced by a combination of factors including former President Donald Trump's critical comments on digital currencies, fears of an impending recession, and the imposition of new tariffs on Bitcoin mining equipment. Trump's remarks, which highlighted his skepticism towards cryptocurrencies, contributed to a sharp decline in investor confidence. Additionally, economic indicators pointing towards a potential recession further exacerbated the market's volatility. The new tariffs on Bitcoin mining equipment, aimed at protecting domestic industries, added to the bearish sentiment by increasing operational costs for miners. As a result, Bitcoin and other major cryptocurrencies saw substantial losses, with Bitcoin dropping below $40,000 for the first time in months.

Read the Full Fortune Article at:
[ https://fortune.com/crypto/2025/03/10/crypto-market-down-trump-potential-recession-bitcoin-tariffs/ ]