ΠUS President Donald Trump has slammed the global crypto market, triggering a $300 billion sell-off, SNVS reported. ΠThe reason is the imposed tariffs, which came into force today, March 4. Shortly before this, Trump's statement about the American crypto reserve became a reason for investments also in the amount of $300 billion.
Anyway, the total market capitalization fell by almost 14% in 36 hours, falling to $2.82 trillion from over $3.2 trillion on Sunday evening. This move practically wiped out all gains from the sell-off that followed the March 2 reserve statement.
More than 31,000 traders have been liquidated in the past 24 hours, worth more than $1 billion, according to Coinglass. The price of the most popular cryptocurrency Bitcoin continued to fall, reaching just under $83,000.
ΠCall for investigation of Donald Trump for "crypto market manipulation"
The well-known economist and Bitcoin critic - ΠSitter Schiff, called on the social network X for an investigation by Congress into Donald Trump, due to "one of the largest crypto manipulations ever observed". The experts' concerns are related to recent posts on Trump's social media accounts, which Schiff claims were designed to artificially inflate the prices of various cryptocurrencies.
According to economists, the posts may have been part of a larger scheme to benefit those who knew about their publication in advance. He urged law enforcement to track financial transactions linked to the incident, particularly in relation to the crypto assets Bitcoin (BTC), XRP, Solana (SOL). and Sardano (ADA).
Πitp Schiff questions whether people close to Donald Trump used inside information to benefit from the cryptocurrency market. Therefore, it calls for a check on the timing of investments and subsequent sales by individuals with early access to the posts.