According to BlockBeats news on August 2, according to CNBC, the crypto market declined on Friday after Trump announced adjusted "reciprocal" tariffs on dozens of countries. Bitcoin price performance is relatively firm, while Ethereum, XRP, and BNB all experienced slight declines. Bitcoin fell to a low of $113,988.47 at one point.

The decline triggered massive long liquidation, where traders were forced to sell assets at market prices to pay off debts, further driving the price down.

Crypto-related U.S. stocks suffered even more losses. Coinbase led the decline due to poor second-quarter results, down 15%; Circle fell 4%, Galaxy Digital fell 2%, Ethereum treasury company Bitmine Immersion fell 8%, and MicroStrategy fell 5%.