According to The Kobeissi Letter, since the onset of trade war concerns on January 20th, the cryptocurrency markets have suffered a significant downturn, losing over $800 billion in value. Historically, Bitcoin has been seen as a decentralized hedge against economic uncertainty, but recent developments indicate a shift in this perception. The decline suggests that digital currencies are not immune to macroeconomic pressures such as trade conflicts. This change in market dynamics requires traders to reassess their strategies, considering the new risks associated with geopolitical tensions. Source: The Kobeissi Letter.