Market Uncertainty Sparks Bitcoin's Decline

In a surprising turn of events, Bitcoin's value dipped below $98,000 this Sunday. This downturn comes amidst growing market uncertainty, fueled by US President Donald Trump's aggressive move to impose tariffs on Mexico, Canada, and China. The European Union is also on the radar, potentially facing similar measures.

Retaliatory Measures Announced

In response to Trump's tariffs, China, Canada, and Mexico have announced their own retaliatory measures. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods. The European Union has also voiced its concerns, warning of firm retaliation should European exports become targets.

Impact on Cryptocurrency Market

At 12:26 pm ET, Bitcoin was observed to be down by 3.05%, trading at $97,512. Ethereum also experienced a significant drop, decreasing by 3.60% to $3,003 just a minute later.