Cryptocurrencies Slip as Bitcoin Drops Below $82,000
Cryptocurrencies are in decline this Tuesday, March 18. Bitcoin (BTC) has fallen 2% in the past 24 hours, trading around $81,731.43, according to Binance.
Most altcoins are also in the red, with losses of up to 4.4%, led by Solana, followed by Dogecoin (-4.3%) and Cardano (-3.8%).
U.S. Trade Policy Fuels Market Uncertainty
The broader market remains highly uncertain, driven by increased volatility and fears of a potential recession. The U.S. trade policy, shaped by President Donald Trump’s ongoing tariff announcements, has heightened investor concerns, with many worried that these measures could push the country into an economic downturn.
Treasury Secretary Scott Bessent acknowledged in an interview with NBC that there are “no guarantees” the U.S. will avoid a recession. However, he defended the current policies, stating they aim to “reset the economy” and prevent a more significant collapse. “Market corrections are healthy and normal,” Bessent added in an attempt to ease tensions.
Market Correlation
The strong correlation between cryptocurrencies and U.S. equities has carried this uncertainty into the crypto market. Investors are now focused on this week’s Federal Reserve (Fed) meeting. While interest rates are expected to remain unchanged, any signals regarding inflation or the central bank’s stance will be crucial—especially given the potential impact of tariffs on monetary policy.
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