Crypto Prices Today : Trump Tariffs, Crypto Summit March 7, Why is Bitcoin Falling? Crypto Liquidations, XRP News

In response to the U.S. government’s announcement of a 10% tariff on all Chinese goods, China will impose additional tariffs starting March 10, 2025. A 15% tariff will apply to American chicken, wheat, and other products, while soybeans, pork, and more will face a 10% tariff, escalating ongoing trade tensions between the two nations.

Grayscale Investments has filed for approval of a new spot Hedera (HBAR) ETF with the U.S. Securities and Exchange Commission (SEC), marking its sixth altcoin-focused ETF. This move is part of Grayscale’s broader strategy to offer more altcoin investment products. The SEC’s current stance under acting chair Mark Uyeda has been more supportive of altcoin-based ETFs, signaling potential broader adoption.

The crypto market plummeted, shedding $460 billion in just 24 hours, with over $1.09 billion in liquidations. Bitcoin (BTC) dropped over 10%, while altcoins like Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) fell 15%-25%. Analysts predict BTC may dip to $70,000-$75,000 before resuming an uptrend. Despite President Trump’s crypto reserve announcement, the market faces continued uncertainty amid tariff news.

Bybit CEO Ben Zhou revealed that out of the $1.4 billion in hacked funds, 77% are still traceable, 20% have gone dark, and 3% have been frozen. The hackers have successfully converted 83% of the stolen funds, amounting to approximately $1 billion worth of Ethereum (ETH), into Bitcoin (BTC). This significant development highlights the ongoing investigation and the complex nature of tracking and recovering stolen cryptocurrency.

Bitcoin (BTC) saw a sharp decline, dropping to $83K, while Ethereum (ETH), XRP, and Solana (SOL) also crashed 14%-20% intraday. The crypto market lost nearly 10% in value amid massive liquidations totaling over $1 billion. Despite President Trump’s crypto reserve announcement, liquidity setbacks and broader market trends contributed to the sell-off, with meme coins like Dogecoin and Shiba Inu also mirroring the downturn.