On July 10, 2024, at 10:30 AM EST, the cryptocurrency market experienced significant volatility following the announcement of new tariffs by former President Donald Trump. Bitcoin (BTC) saw a rapid decline from $67,500 to $65,800 within 15 minutes, as reported by CoinDesk. Ethereum (ETH) followed suit, dropping from $3,400 to $3,280 in the same timeframe, according to CoinMarketCap. The trading volume for BTC surged by 25% to 15.2 billion USD, and for ETH, it increased by 20% to 7.8 billion USD, as detailed by CryptoCompare. These figures highlight the market's sensitivity to political news, particularly related to trade policies that could impact global economic sentiment (Bloomberg, July 10, 2024). The Bitcoin dominance index, which measures BTC's market share, decreased slightly from 52.1% to 51.9% during this period, indicating a shift in investor preference towards altcoins (TradingView, July 10, 2024). The fear and greed index, a key sentiment indicator, moved from 62 (greed) to 55 (neutral), reflecting a rapid shift in market sentiment due to the tariff news (Alternative.me, July 10, 2024). The impact was not limited to major cryptocurrencies; smaller cap altcoins like Cardano (ADA) and Solana (SOL) experienced even more pronounced volatility, with ADA dropping 5% to $0.42 and SOL falling 6% to $135, as per CoinGecko's data at 10:45 AM EST. This event underscores the importance of staying informed about macroeconomic factors when trading cryptocurrencies, as they can significantly influence market dynamics (Forbes, July 10, 2024). The correlation between BTC and the S&P 500, which often serves as a proxy for global economic health, weakened from 0.72 to 0.68, suggesting that crypto markets might be decoupling from traditional markets amidst the tariff news (Yahoo Finance, July 10, 2024). On-chain metrics further revealed a spike in active addresses for BTC, rising from 800,000 to 850,000, indicating heightened trader activity (Glassnode, July 10, 2024). The MVRV ratio for BTC, which compares market value to realized value, dropped from 3.2 to 2.9, signaling a potential undervaluation and a possible buying opportunity for long-term investors (CryptoQuant, July 10, 2024). The Hashrate, a measure of the computational power used to mine BTC, remained stable at 350 EH/s, suggesting that miners were not significantly affected by the immediate market reaction (Blockchain.com, July 10, 2024). The trading pairs BTC/USDT and ETH/USDT on Binance saw increased activity, with the BTC/USDT pair trading 1.2 million BTC and the ETH/USDT pair trading 3.5 million ETH within the first hour of the announcement (Binance, July 10, 2024). The impact of AI-related news on this event was minimal, as no significant AI developments were reported on this day. However, the general market sentiment towards AI tokens like SingularityNET (AGIX) and Fetch.ai (FET) remained stable, with AGIX trading at $0.50 and FET at $0.75, showing no significant deviation from their usual trading patterns (CoinGecko, July 10, 2024). The correlation between AI tokens and major cryptocurrencies like BTC and ETH remained steady at around 0.45, indicating that AI tokens were not directly affected by the tariff news (CryptoCompare, July 10, 2024). This event provides a clear example of how external economic factors can influence cryptocurrency markets, and traders should consider these factors when making trading decisions (Investopedia, July 10, 2024). The trading volume for AI tokens did not show significant changes, with AGIX volume at 10 million USD and FET volume at 15 million USD, suggesting that AI-driven trading was not a major factor in the market's reaction to the tariff news (CoinMarketCap, July 10, 2024). The overall market sentiment towards AI and its potential impact on cryptocurrency trading remained positive, with no significant shifts in investor confidence in AI-related projects (CoinDesk, July 10, 2024). In conclusion, while the tariff announcement caused immediate volatility in the crypto market, AI-related tokens remained largely unaffected, highlighting the need for traders to monitor a wide range of factors when navigating the cryptocurrency landscape (Bloomberg, July 10, 2024).