Market Turbulence Following Trump's Tariff Decision

In a surprising turn of events, President Donald Trump's announcement of new tariffs on Canada, Mexico, and China has sent shockwaves through the cryptocurrency market. The uncertainty was palpable as Bitcoin and Ethereum experienced significant drops in value late Sunday.

Impact on Cryptocurrency Values

Bitcoin saw a decrease of 4.73%, falling to $92,935, while Ethereum took a harder hit, plummeting by 13.52% to $2,455. This downturn reflects the market's reaction to the potential for increased trade tensions and economic instability.

Trump's Warning to the EU and North American Neighbors

Trump also hinted at imposing tariffs on the European Union, stating they would be implemented "pretty soon." Furthermore, he cautioned that tariffs against Canada and Mexico could escalate if trade deficits and the flow of fentanyl into the US are not addressed.