The US-China talks will “be central” to crypto traders’ market moves in the short-term, sentiment platform Santiment said.
Crypto retail traders were quick to blame Friday’s broader crypto market decline on US President Donald Trump announcing a 100% tariff on China, as they often look for something to point the finger at during downturns, according to Santiment.
Analysts, however, say the reason for the market slump runs deeper than the tariffs alone.
“This is typical 'rationalization' behavior from retailers, who need to point to a singular event as the reason for a cataclysmic downturn in crypto,” Santiment said in a report on Saturday.
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