The Crypto Market Witnesses a Strong Selling Wave After Trump's New Tax Decision

In the context of global trade tensions, the cryptocurrency market has experienced a strong shock when President Donald Trump announced new tariffs on goods imported from Mexico and Canada. This decision is expected to take effect from March 4, causing investors to lose confidence and gradually shift to risk mitigation measures. Direct Impact on Bitcoin and Other Currencies Following the announcement, Bitcoin (BTC) dropped below the $92,000 mark, contributing to an approximately 8% decline in the total market capitalization, equivalent to $230 billion. Many investors are concerned about the negative impact of global trade tariffs, leading to a rapid withdrawal of funds. In addition, the cyber attack related to the Lazarus Group hacker group, which is believed to be associated with the meme coin Pumpfun, has caused the price of Solana (SOL) to drop sharply, falling below $150 with a decrease of up to 15%. Data from Coinglass shows that futures traders of Bitcoin, Ethereum (ETH), and Solana (SOL) are trending towards liquidating nearly $1 billion, evidence of selling pressure in the market. New Tax Policy and Its Economic Consequences According to information from Bloomberg, President Trump announced that a 25% tariff will be applied to goods from Mexico and Canada, while for Canada's energy sources such as oil, natural gas, and electricity, the tariff is 10%. These tariffs are said to promote trade balance adjustments, but also raise concerns about negative impacts on global business operations. In that context, investment products related to Bitcoin, especially ETFs, also suffered heavy losses. According to CoinShares' statistics, Bitcoin ETFs saw a significant outflow of funds of up to 571 million USD in the past week, marking the second consecutive week of substantial losses, further undermining investor confidence. Prospects and Advice for Investors Although Bitcoin is still considered to have a positive long-term growth structure, pressures from an unstable economic environment and new tax policies may prolong the adjustment period, causing the crypto market to continue facing strong fluctuations. Notably, investment demand in Bitcoin has decreased for the first time since September 2023, a warning signal of imbalance in market sentiment. In the context of constant market fluctuations, investors need to closely monitor the developments of international trade policies and the impact of cybersecurity events on the market. Timely information capture and accurate risk assessment will be the key to making smart investment decisions in a market that is always volatile like crypto. Recent developments have shown that, whether it is cryptocurrencies or related investment products, economic and policy instability can have a strong impact, requiring investors to always be vigilant and prepared to deal with any situations that may arise in the future.