Crypto Markets Dip on Trump Tariff Fears as BTC Outflows Rise

The crypto market is feeling the heat today after news about potential tariffs from Donald Trump shook investor confidence. Bitcoin dropped about 2% to sit near $91,100, while Ethereum saw a steeper 4% decline to $3,105. Most major coins like Solana and XRP are also trading in the red as the broader market reacts to the shifting political landscape.

The institutional side showed mixed signals during this price dip. Bitcoin ETFs recorded nearly $394 million in net outflows on Friday, ending a four day streak of gains. However, Ethereum ETFs managed to stay positive with modest inflows. Meanwhile, the fast food chain Steak 'n Shake joined the corporate Bitcoin movement, revealing it holds about $10 million in the asset as part of its own strategic reserve.

Infrastructure projects are moving forward despite the volatility. The New York Stock Exchange is getting ready for 24/7 trading of tokenized stocks, and Bermuda announced plans to move its entire national economy onchain. It was a rough day for new launches though, as the Trove token lost 90% of its value during its debut, prompting the announcement of a new fund to help support prices.

Finally, Ethereum creator Vitalik Buterin is pushing for better ways to manage decentralized organizations. He called for more sophisticated governance models to help these groups with accountability and lasting sustainability. While the big names struggled, some smaller onchain tokens like Eliza Town managed to defy the trend with massive price gains.