Bitcoin and Ether, among other top 10 non-stablecoin cryptocurrencies, faced a decline in Tuesday's afternoon trade in Asia, with Polygon and Solana leading the losses. This was due to the unexpected decrease in China's April imports and export growth, which also caused Asian equity markets to decline. Although investors turned to crypto assets due to concerns about banking and monetary policy expectations, fears of a recession in the U.S. and further interest rate hikes in Europe could affect the market, eroding investors' confidence and willingness to take risks.
All Comments