Editor's PiCK
Ethereum, Just $60 Away from Breaking the $2,000 Level
Summary
- Ethereum has plunged 15.59% to $2,062.73, raising concerns about a potential break below the $2,000 level.
- Analysis suggests that as tariff policies between major countries become more concrete, increased macroeconomic instability has significantly dampened investment sentiment for risk assets.
- President Trump announced there is no room for negotiation regarding additional tariffs on China and high tariffs on Mexico and Canada, causing major New York Stock Exchange indices and Bitcoin to plummet.
As of 11:52 AM on the 4th, Ethereum is currently trading at $2,062.73, down 15.59% compared to the previous day according to CoinMarketCap.
This is the first time Ethereum has fallen below $2,100 since December 2023.
Analysts attribute this to increased macroeconomic instability as tariff policies between major countries have become more concrete, significantly dampening investment sentiment for risk assets.
U.S. President Donald Trump signed an executive order at the White House today raising all additional tariffs on China to 20%. In the subsequent press conference, President Trump stated there is "no room for negotiation" regarding the 25% tariffs to be imposed on Mexico and Canada.
In response to President Trump's aggressive policies, major risk assets including the main indices of the New York Stock Exchange and Bitcoin (BTC) plummeted.
The Dow Jones Industrial Average closed at 43,191.24, down 649.67 points (-1.48%) from the previous session. The Standard & Poor's (S&P) 500 index finished at 5,849.72, down 104.78 points (-1.76%), while the technology-focused Nasdaq index closed at 18,350.19, down 497.09 points (-2.64%).
At the same time, Bitcoin, the leading cryptocurrency, plunged 9.88% compared to the previous day, giving back most of the gains it had recorded the day before.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
