Crypto slump deepens as macro headwinds offset Trump push

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Crypto slump deepens as macro headwinds offset Trump push

_{//business-finance.news-articles.net/content/202 .. eepens-as-macro-headwinds-offset-trump-push.html}
^{Published in Business and Finance on Monday, March 10th 2025 at 10:01 GMT by Bloomberg}

Cryptocurrency prices extended their slide on Monday (Mar 10) as escalating tariff war tensions and diminishing prospects of further Federal Reserve rate cuts offset a wave of pro-crypto announcements from President Donald Trump last week.

The cryptocurrency market experienced a significant downturn, with Bitcoin dropping below $26,000, marking a 3.7% decrease in a single day, and Ether also declining by 3.5%. This slump was influenced by broader macroeconomic concerns, including the anticipation of sustained high interest rates as suggested by the Federal Reserve's recent minutes, which indicated a potential for further rate hikes to combat inflation. Despite former President Donald Trump's endorsement of cryptocurrencies, which briefly buoyed the market, the overall sentiment remained negative due to regulatory uncertainties and the macroeconomic environment. The market's reaction was also affected by the lack of positive developments in the crypto space, with even the news of Trump's support failing to provide lasting momentum against the backdrop of economic headwinds.

Read the Full Bloomberg Article at:
[ https://www.msn.com/en-us/money/markets/crypto-slump-deepens-as-macro-headwinds-offset-trump-push/ar-AA1ABVOQ ]

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