Analysis: The escalation of trade tensions has triggered volatility in the cryptocurrency market, increasing cautious sentiment among investors

ChainCatcher news, according to CoinDesk, the cryptocurrency market experienced a significant decline this weekend, with Dogecoin dropping over 8%, PEPE down 12%, and Bitcoin's price falling more than 2%, trading slightly above $103,600. ETH fell nearly 4%, while Ripple (XRP), BNB Chain (BNB), ADA, and SOL all dropped 2-5%.

Analysts believe that this economic downturn is related to the renewed escalation of trade tensions, and market volatility is expected to persist. The derivatives market also indicates that investors' cautious sentiment is increasing; according to Deribit data, the open interest in Bitcoin futures has risen by 51% since April, while options contracts have surged by 126%.