Hedera Hashgraph (HBAR) has experienced a significant decline today, driven by a combination of market sentiment and broader economic factors. The cryptocurrency market has been under pressure following the release of a new open-source large language model by Chinese AI startup DeepSeek, which led to a sell-off in tech and crypto positions. This development has contributed to a bearish sentiment across the crypto market, affecting HBAR's performance.
Additionally, the anticipation of new tariffs announced by President Donald Trump against Canada, Mexico, and China has added to the market's volatility. These tariffs, set to begin today, have created uncertainty and have negatively impacted investor confidence in riskier assets, including cryptocurrencies like HBAR. The market's reaction to these geopolitical tensions has been reflected in the downward pressure on HBAR's price.
Hedera Hashgraph's price has fallen by 6.50% today, reaching a low of $0.286721.