The crypto market experienced a sharp $800 million drop, triggered by economic pressures and fading excitement from Trump's crypto reserve announcement.
Whales moved significant amounts of crypto to exchanges, signaling potential selling pressure and contributing to the market decline.
Underlying market demand remains weak, with declining Bitcoin demand and slowed retail accumulation.
New tariffs on Mexico and Canada added more pressure, triggering a market-wide sell-off and showing how sensitive crypto remains to economic changes.