Ethereum Tanks as Trump’s Trade War Escalates—New Sell-Off Hits Crypto

In Brief:

ETH dropped over 6%, hitting its lowest intraday price since March 2023.

Bitcoin also slipped more than 3% before slightly recovering.

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Ethereum led the latest wave of crypto sell-offs as escalating trade tensions under U.S. President Donald Trump rattled global markets. According to Bloomberg via ChainCatcher, ETH dropped more than 6% on Wednesday, briefly touching its lowest intraday level since March 2023 before bouncing back.

The broader market felt the pressure, with Bitcoin also declining over 3% before staging a partial rebound. The renewed volatility comes as Trump pushed ahead with sweeping tariffs, casting a long shadow over investor confidence and fueling fears of a prolonged trade war.

Traders are now bracing for further turbulence as geopolitical and economic uncertainties continue to weigh on risk assets like digital currencies.

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