The crypto market experienced a sharp sell-off following Donald Trump's announcement of trade tariffs.
Bitcoin dropped over 7% and Ethereum crashed nearly 14.5%, causing global stock markets to nosedive.
Trump's tariffs triggered a risk-off sentiment globally, leading to liquidation in the market and a $590M wipeout from the crypto market.
While some analysts are bearish, others see this panic sell-off as the setup for a historic Bitcoin rally, with predictions of BTC hitting $220,000 this month.