Cryptocurrency Decline Overshadows Trump's Industry Support

Cryptocurrencies suffered declines as apprehension regarding a downturn in US stock markets overshadowed President Donald Trump’s recent moves to support the industry.

Bitcoin saw a decrease of over 3% on Tuesday morning in Asia, while Ether, the second most prominent cryptocurrency, plunged up to 6%, hitting an intraday low of $1,756—a level not witnessed since October 2023, according to Bloomberg’s data. However, both cryptocurrencies later recovered some of the earlier losses.