The trade war and concerns about stagflation have pushed investors away from cryptocurrency.

Foreks - Market experts said that the ongoing trade tariff war, stagflation talks, and the rush to safe havens are driving investors away from the crypto market.

Jeff Mei, the operations manager of the crypto exchange BTSE, hinted that Bitcoin could drop to the range of $70,000 to $80,000 in the coming weeks.

Mei argued that the top cryptocurrencies would continue to trend towards their previous all-time highs only when this tariff war comes to an end and the Fed continues to lower interest rates.

Agne Linge, WeFi's Growth Director, stated in an interview with Arabian Business, "The crypto market continues to exhibit risky behavior with investor sentiment remaining cautious despite significant developments."

Linge noted, "Since the volatility began on March 3, there has been no slowdown in sales despite the Bitcoin reserve announcement," adding that the same factors that triggered the previous crypto market downturn are still at play.

Linge said, "The ongoing trade war among the United States, China, Mexico, and Canada continues to exert pressure on investor sentiment," and added, "The escalation of tariffs is expected to increase inflationary pressures and raise the likelihood of broader macroeconomic turbulence in the weeks to come."