Although the leading cryptocurrency Bitcoin rose to $83,000 during the day yesterday, this rise was short-lived and the BTC price fell below $80,000.
The decline in BTC also affected altcoins, with Ethereum (ETH) down 8%; XRP down 4%; Solana (SOL) down 3.8%; and Dogecoin (DOGE) down 8.4% in the last 24 hours.
While the downward trend continues in the US stock markets as well as in Bitcoin and cryptocurrencies, it is evaluated that the decline is related to the pullback in the US stock markets.
At this point, Anthony Pompliano, CEO of Professional Capital Management, claimed that US President Donald Trump and his administration deliberately caused the stock market crash.
Pompliano stated that Trump and Treasury Secretary Scott Bessent knowingly caused the stock market crash and tried to deliberately collapse asset prices, and claimed that they forced the FED to lower interest rates.
“Trump and his team are deliberately crashing the market.
Is this a master plan or are we watching uncontrolled destruction?
“If the Fed lowers interest rates in response to this market decline, the Trump administration could avoid nearly $7 trillion in debt. That's why Trump and his team have deliberately talked about imposing tariffs and significantly lowered the yield on the 10-year Treasury note in order to create favorable conditions for the bond market.”
While the issue of Trump intentionally causing the decline remains an allegation for now, Pompliano also recalled Trump's words in an interview: “Nobody gets rich when interest rates are high, because people can't borrow money.”
Whether or not Pompliano’s claims are true, U.S. stock markets have been in a slump lately, and cryptocurrencies are being hit even harder.
At this point, while 'recession fear' dominated the US stock markets yesterday, Nasdaq (-4%), SP 500 (-2.70%) and Dow Jones Industrial Average (-2.08%) closed with declines.
The cryptocurrency market was more affected by this decline, with major cryptocurrencies such as Bitcoin (-2%), Ethereum (-8%) and XRP (-4%) experiencing significant declines.
*This is not investment advice.
