Global Cryptocurrency Market Declines Amid Trade Policy Uncertainty

The global cryptocurrency market experienced a downturn on Monday, with its total value falling by 4.5% to $2.29 trillion. This significant drop was largely driven by concerns over President Trump's trade policy and the escalating tensions between the US and Iran.

In response to the uncertainty surrounding his tariffs, investors have become increasingly anxious about the potential impact on global economic growth and inflation rates. The market capitalization of major cryptocurrencies such as Bitcoin and Ethereum has declined significantly, with some experiencing losses of up to 9%.

The decline in cryptocurrency values is also attributed to the fact that Bitcoin has failed to maintain its status as a safe-haven asset amid market chaos this year. As a result, investors are rotating out of risk-on assets and seeking more traditional hedges such as gold until more clarity is provided.