The prices of most cryptocurrencies rose during Tuesday's trading, despite ongoing selling pressures in the market as investors avoided risk due to concerns about a U.S. economic recession driven by President Donald Trump's policies.
Bitcoin increased by 3% to $81,166.52 at 11:55 AM Makkah time, after hitting its lowest level since November at $77,396.43 in yesterday's trading.
Ethereum rose by 2.34% to $1,906.56, Ripple by 2.17% to $2.1209, and Dogecoin by 1.66% to $0.16. Meanwhile, Trump’s symbolic cryptocurrency fell by 5.14% to $10.48.
Despite the positive performance of several major cryptocurrencies, the total market capitalization of cryptocurrencies dropped by 1.48% to $2.63 trillion, while the 24-hour trading volume surged by 51.25%, according to CoinMarketCap data.
This indicates that selling pressures continue in the cryptocurrency market, which have been exacerbated by Trump’s statements this week, where he said he does not rule out a U.S. recession this year due to the effects of his trade policies
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