Trade War Tensions Escalate

President Donald Trump's aggressive tariff policies have sent shockwaves through the cryptocurrency market. Following the announcement of new tariffs on Canada, Mexico, and China, the market was already on edge. The situation worsened when Trump hinted at imposing tariffs on the European Union, causing Bitcoin and Ethereum to plummet.

Market Reaction

By 9:06 pm ET, Bitcoin had fallen by 4.73% to $92,935, while Ethereum experienced a significant drop of 13.52%, trading at $2,455. This market reaction underscores the sensitivity of cryptocurrencies to global economic policies and trade tensions.

What's Next?

Trump's warning that tariffs against Canada and Mexico could intensify adds to the uncertainty. The cryptocurrency market remains volatile, with investors closely watching for any developments in international trade policies that could further impact Bitcoin and Ethereum prices.