{"id":15455,"date":"2025-02-28T07:03:07","date_gmt":"2025-02-28T07:03:07","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=15455"},"modified":"2025-02-28T07:03:07","modified_gmt":"2025-02-28T07:03:07","slug":"xrp-doge-plunge-10-as-fresh-trump-tariffs-hit-china-markets","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=15455","title":{"rendered":"XRP, DOGE Plunge 10% as Fresh Trump Tariffs Hit China Markets"},"content":{"rendered":"
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XRP and dogecoin (DOGE) plunged over 10% to lead losses among crypto major as confirmation of fresh U.S. tariffs on China hit Asian markets on Friday, adding to an already tumultuous week for cryptocurrencies.<\/p>\n

Bitcoin (BTC) dropped 7% to near $79,000 for the first time since November, down nearly 30% since its January peak of above $108,000. Ether (ETH), Cardano\u2019s ADA and BNB Chain\u2019s BNB showed similar woes with a slide of at least 9%.<\/p>\n

Overall market capitalization fell 8% to $2.7 trillion, reversing all advances since U.S. President Donald Trump was elected in early November. The broad-based CoinDesk 20 (CD20)<\/a> dropped nearly 9%.<\/p>\n

A solid earnings from Nvidia on Wednesday was not enough to offset the onsetting market gloom as global equities faltered on a combination of renewed tariff concerns, a slowing economy and overstretched positioning, which has naturally spilled over to crypto given BTC’s high correlation with the S&P 500 index, traders say.<\/p>\n

\u201cOn a YTD basis, ex-BTC tokens and trading sentiment have struggled mightily with liquidity being depleted from the numerous memecoin runs, and BTC also buckled from the weight of ETF selling, which hit a record high last week,\u201d Augustine Fan, head of insights at SignalPlus, told CoinDesk in a Telegram message.<\/p>\n

Friday\u2019s losses in crypto markets mirrored those of Chinese stocks, which slumped after Trump announced a new 10% tariff on Chinese imports. This added to worries about a growing trade war between the U.S. and China, the world\u2019s two largest economies.<\/p>\n

The new tariff adds to an existing 10% tax on Chinese goods that started earlier this month. This could hurt China\u2019s economy, which faces a property crisis and falling prices. It might also stop a stock market rise fueled by China\u2019s AI advances \u2014 led by ChatGPT rival DeepSeek.<\/p>\n

The move comes ahead of China\u2019s big annual meeting, the National People\u2019s Congress, starting next week, where leaders are expected to share economic plans and growth goals.<\/p>\n

A decision of China to spend more or encourage buying to boost the economy could impact bitcoin and crypto prices and serve as a market catalyst \u2014 making it a key data point to watch for next week.<\/p>\n

However, the mood remains bearish among some bitcoin traders until then.<\/p>\n

\u201cBullish option speculators are throwing in the towel as well, with volatility coming lower against a lower spot price as calls are being dumped in favour of puts,\u201d SignalPlus\u2019 Fan said.<\/p>\n

\u201cFinally, concerns over MSTR (-10%) are adding an extra element of risk to BTC, given their convertible funded buying, putting bearish sentiment at a near-term extreme on many technical indicators.\u201d<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

XRP and dogecoin (DOGE) plunged over 10% to lead losses among crypto major as confirmation of fresh U.S. tariffs on China hit Asian markets on Friday, adding to an already tumultuous week for cryptocurrencies. Bitcoin (BTC) dropped 7% to near $79,000 for the first time since November, down nearly 30% since its January peak of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-15455","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15455"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/15455\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}