Market Uncertainty Rises as Trump Imposes Tariffs

Bitcoin's value dropped below $98,000 this Sunday, a direct consequence of the growing market uncertainty following US President Donald Trump's decision to impose tariffs on Mexico, Canada, and China. The European Union is also potentially next in line for these tariffs, adding to the global economic tension.

Retaliatory Measures Announced

In response to Trump's tariffs, China, Canada, and Mexico have announced their own retaliatory measures. Notably, Canada has proposed a 25% tariff on $155 billion worth of American goods. The European Union has also expressed its disapproval, warning of firm retaliation should European exports be targeted by Trump's trade policies.

Impact on Cryptocurrency

At 12:26 pm ET, Bitcoin experienced a 3.05% decrease, trading at $97,512. Shortly after, Ethereum also saw a decline, dropping 3.60% to $3,003. These fluctuations highlight the sensitivity of the cryptocurrency market to global economic events and policies.