BTC
$105,365.40
–
2.86%
ETH
$2,623.30
–
3.63%
USDT
$1.0003
+
0.02%
XRP
$2.1960
–
4.36%
BNB
$669.87
–
2.69%
SOL
$164.01
–
5.27%
USDC
$0.9998
+
0.01%
DOGE
$0.2053
–
8.91%
TRX
$0.2709
–
2.52%
ADA
$0.7028
–
6.69%
SUI
$3.4727
–
4.94%
HYPE
$33.56
–
3.09%
LINK
$14.51
–
8.47%
AVAX
$21.52
–
9.13%
XLM
$0.2732
–
4.54%
LEO
$9.1577
+
1.26%
TON
$3.2591
–
2.38%
BCH
$406.11
–
4.24%
SHIB
$0.0₄1343
–
7.19%
HBAR
$0.1751
–
6.00%
By Shaurya Malwa|Edited by Parikshit Mishra
May 30, 2025, 8:14 a.m.
- Dogecoin, Cardano’s ADA, and Solana’s SOL fell sharply as Trump’s tariffs reignited trade tensions.
- A U.S. appeals court temporarily reinstated the tariffs, allowing them to remain while the government appeals.
- Bitcoin and ether prices dropped amid the uncertainty, while gold surged as jobless claims increased.
Dogecoin
nosedived 9%, while Cardano’s ADA
and Solana’s SOL
each fell 6% in the past 24 hours as Trump’s reinstated tariffs reignited trade tensions.
A swift legal reversal saw the U.S. Court of Appeals for the Federal Circuit issue a temporary stay on Wednesday’s lower court ruling that had struck down the tariffs, allowing them to remain in place while the government appeals.
STORY CONTINUES BELOW
The tariffs, announced on April 2 and dubbed “Liberation Day” duties by Trump, target nearly all U.S. trading partners and were imposed under the 1977 International Emergency Economic Powers Act.
Bitcoin
slid below $106,000 while ether
lost the $2,700 mark amid the renewed uncertainty. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market capitalization, fell 4%.
“The price of Bitcoin fell after Trump’s tariffs were reinstated by an appeals court, while U.S. GDP figures showed the economy shrank in the first quarter,” said Nick Ruck, director at LVRG Research, in a Telegram message.
“Gold surged higher as jobless claims increased and corporate profits fell. Although the Fed continues to see inflation as a threat, we’re optimistic that Bitcoin will rebound as investors look for long-term value holds during volatile market fluctuations,” Ruck added.
Market sentiment appeared cautious, with the total crypto market capitalization flat at $3.42 trillion.
“Cryptocurrencies prefer not to notice positive stock market movements as they are related to tariffs and company reports, not money supply,” noted Alex Kuptsikevich, chief market analyst at FxPro, in an email to CoinDesk.
“Bitcoin retreated from the trading range’s upper boundary at $110k to its lower boundary at $107K. This rest at previous highs effectively removes the local overheating of the market.”
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
