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🚨 Must-Read Crypto Headlines Today!
CoinGape Media
February 27, 2025
News
Donald Trump has confirmed that tariffs on Mexico and Canada will take effect on March 4 if drug flows into the United States are not reduced. He also announced an additional 10% tariff on China, while a 25% tariff on the European Union remains set for April 2. The cryptocurrency market reacted negatively to the news, with Bitcoin dropping again toward $85,000 after experiencing sharp declines over the past few days.
House Democrats are set to introduce the Modern Emoluments and Malfeasance Enforcement (MEME) Act, a direct move against meme coins like TRUMP and MELANIA. The proposed MEME Act would prohibit politicians and their families from creating or promoting such coins.
Markets
Bitcoin (BTC) price swooped to a $82K low intraday, primarily continuing to face macro heat. Simultaneously, Ethereum (ETH), Solana (SOL), and XRP prices also mimicked a downtrend, losing 3%-7%. Primarily, major-league cryptocurrencies reflect a bearish movement as U.S. President Donald Trump rattled global markets with new tariffs for the EU (European Union).
After falling for three straight days, Bitcon price stabilized on Thursday, mirroring the performance of US stocks. S&P 500 and Nasdaq 100 futures rose slightly, following the robust NVIDIA earnings that pointed to more AI chip demand. The BTC crash pause is also signaled by the Ichimoku cloud indicator, which points to a reversal to $90k. Bitcoin and US stocks have become highly sensitive to Donald Trump’s news about inflation. He has hinted that the US will go on with its steel and aluminum tariffs, and those of neigboring countries like Canada and Mexico.