With the official start of trade wars, sales of risky assets have accelerated. The crypto currencies, which surged after the strategic reserve announcement by the U.S. President Donald Trump, changed course again due to fears of trade wars. The excitement of the investors lasted only for a day. The crypto currency market, led by Bitcoin, turned red. Starting at around $94,230 yesterday, Bitcoin dropped by over 12% to $82,000. Later, with a partial recovery, BTC rose to $84,200. The decline in Ethereum (ETH) exceeded 25%. Starting above $2,500 yesterday, Ethereum retreated to $2,000. XRP and Solana (SOL) included in Trump’s reserves list suffered a decline of 25%, while Cardano (ADA) dropped by 55%.
A total of 314 thousand investors were liquidated in crypto futures markets. A total of $1.1 billion positions were closed. The clearance of a $13 million order at once also drew attention.

Mutual tariffs between the U.S. and China have been increased. U.S. President Donald Trump doubled the customs duties on China to 20%. A 25% tariff on products imported from Canada and Mexico to the U.S. will begin tomorrow. Moreover, Canada announced that it will apply an additional 25% tariff to the U.S. China also announced a 15% tax on some U.S. goods. Trump reiterated that reciprocal tariffs on U.S. products would come into effect on April 2nd for countries imposing tariffs.