{"id":697,"date":"2025-05-23T15:34:49","date_gmt":"2025-05-23T15:34:49","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-and-altcoins-are-going-down-is-this-the-end-of-the-crypto-bull-run\/"},"modified":"2025-05-23T15:34:49","modified_gmt":"2025-05-23T15:34:49","slug":"bitcoin-and-altcoins-are-going-down-is-this-the-end-of-the-crypto-bull-run","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-and-altcoins-are-going-down-is-this-the-end-of-the-crypto-bull-run\/","title":{"rendered":"Bitcoin and altcoins are going down \u2013 is this the end of the crypto bull run?"},"content":{"rendered":"

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Bitcoin and most altcoins pulled back on Friday, erasing some of the gains they made earlier this week.<\/p>\n

Bitcoin (BTC) dropped to $107,300, down by 4.12% from its highest point this week. Similarly, Ethereum (ETH) fell by over 8% from its weekly high, while the market cap of all cryptocurrencies, excluding Bitcoin, fell from this week\u2019s high of $1.28 trillion to $1.19 trillion.\u00a0<\/p>\n

The ongoing crypto crash coincided with the sell-off in the stock market. Futures tied to the Dow Jones, S&P 500, and Nasdaq 100 fell by over 1%, continuing a sell-off that has been going on since Monday.<\/p>\n

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Bitcoin and altcoins fell amid trade concerns<\/h2>\n

Bitcoin, altcoins, and the stock market retreated as trade concerns resumed. In a TruthSocial post<\/a>, President Donald Trump said that trade talks with the European Union were going nowhere, and warned that the US will apply a 50% tariff on all goods from the region.<\/p>\n

The statement meant an escalation at a time when market participants have been hoping for a deal between the two allies.\u00a0<\/p>\n

Europe has hinted that it will respond by hiking tariffs on US goods, including Boeing jets. In a statement this week, Ryanair\u2019s CEO warned it would consider cancelling a $33 billion order from Boeing and switching to Airbus if Boeing planes were hit with tariffs. Ryanair is Boeing\u2019s biggest customer.\u00a0<\/p>\n

These trade concerns are coming a week after Moody\u2019s sent shockwaves in the financial market by downgrading the US credit rating. <\/strong>It also came as the House of Representatives voted for the Big Beautiful Bill <\/strong>that will increase US debt by over $3.8 trillion in a decade.<\/p>\n

Is this the end of the crypto bull run?<\/h2>\n

This is not the end of the crypto market bull run for three main reasons. First, the 50% tariff on European goods is a negotiating tactic as Trump did with China. After pushing tariffs on Chinese goods to 145%, he pared them back to 30% earlier this month.\u00a0<\/p>\n

Second, Bitcoin has become a safe haven asset. Most recently, it outperformed the stock market after the Liberation Day tariffs. Spot Bitcoin ETFs have added over $8 billion in inflows since April.\u00a0<\/p>\n

Bitcoin\u2019s appeal as a safe-haven asset is mostly because of its demand and supply metrics. Demand from institutions continues to rise as supply on exchanges and over-the-counter venues continues to fall. Also, Bitcoin has proven itself as a worthy asset in the last 16 years as it jumped from near zero to $111,900 this week.<\/p>\n

Third, these pullbacks in Bitcoin and altcoins are normal. Just recently, Bitcoin fell from $109,300 in January to $75,000 in April and then bounced back to a record high. In 2024, it peaked at $73,340 in March, fell to $49,390 in August, and rebounded to a record high in November.<\/p>\n

<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and most altcoins pulled back on Friday, erasing some of the gains they made earlier this week. Bitcoin (BTC) dropped to $107,300, down by 4.12% from its highest point…<\/p>\n","protected":false},"author":1,"featured_media":345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=697"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/697\/revisions"}],"predecessor-version":[{"id":698,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/697\/revisions\/698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/345"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}