Cryptocurrencies like Bitcoin and Ethereum are currently witnessing a sharp decline in value, attributed to increased global risk sentiment triggered by recent US tariff updates by President Trump. Bitcoin has plunged below $75,000, with Ethereum experiencing an 18.4% drop. The overall market capitalization of cryptocurrencies has contracted by 8.59% to $2.44 trillion, as concerns over a looming economic downturn and expectations of speculative interest rate reductions loom large.