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Crypto traders lose nearly $1 billion as US-China trade war overshadows Trump’s crypto reserve initiative

US trade tensions with China and allies spark $500 billion crypto market plunge despite Trump’s crypto reserve plan.

CryptoSlate

Mar 4

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Happy Tuesday!

The crypto market is reeling from a $500 billion plunge as escalating US-China trade tensions overshadow President Trump’s ambitious crypto reserve initiative. Amid the turmoil, Michael Saylor predicts Bitcoin’s meteoric rise to a potential $200 trillion market cap under Trump’s plan, while CryptoQuant’s CEO warns of crypto becoming a geopolitical tool. Meanwhile, Yuga Labs celebrates a regulatory win as the SEC concludes its investigation with no charges. Stay tuned for these stories and more in today’s edition!

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The global crypto market cap is $2.74 trillion, with a 24-hour volume of $178.18 billion. The price of Bitcoin is $82,724.37, and BTC market dominance is 59.9%. The price of Ethereum is $2,065.27, and ETH market dominance is 9.1%. The best-performing sector is Education, which gained 33%. The Crypto Fear & Greed Index is currently Extreme Fear (15).