President Donald Trump’s recent speech at the White House, in which he unveiled new tariffs on imports from 50 countries—including BRICS and the European Union—has sent shockwaves through the financial markets. The address, dubbed the “Declaration of Economic Independence,” was designed to counter what Trump referred to as unfair trade practices. However, for crypto enthusiasts and investors eagerly awaiting his stance on digital currencies, the speech was conspicuously silent.
Trump made no reference to Bitcoin, blockchain, or any form of digital assets during his address. This unexpected omission sent the crypto market into a tailspin. Bitcoin (BTC), which had been hovering around $88,000, saw a sharp decline of $3,000 in just minutes, dropping to $85,000 before stabilizing slightly at $84,800. Ethereum (ETH) also suffered, dipping to $1,845, as the broader crypto market followed suit.
The crash affected other major cryptocurrencies as well. XRP tested its $2 support level, Binance Coin (BNB) fell below $600, and Solana (SOL) saw a few percentage points drop, now trading below the $125 mark. Across the board, the crypto market showed widespread losses shortly after Trump began his speech.
In his half-hour address, Trump focused on inflation, energy, and the revitalization of American manufacturing, aligning with his broader economic goals. Yet, despite earlier speculation that he might address the future of digital currencies in the U.S., cryptocurrencies were completely absent from his remarks. This silence has left crypto advocates, who had hoped for positive signals regarding the U.S. becoming a “crypto capital,” frustrated and uncertain about the future regulatory landscape for digital assets.
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