Market Uncertainty Escalates

Following President Donald Trump's firm stance on tariffs, the cryptocurrency market experienced significant volatility late Sunday. The decision to impose tariffs on Canada, Mexico, and China, announced on Saturday, had already created a sense of uncertainty. This was further exacerbated when Trump hinted at new tariffs against the European Union, stating they would be implemented "pretty soon."

Impact on Cryptocurrencies

At 9:06 pm ET, Bitcoin saw a 4.73% decrease, trading at $92,935. Ethereum, on the other hand, experienced a more dramatic drop of 13.52%, with its value falling to $2,455. These movements highlight the sensitivity of the crypto market to global economic policies and trade tensions.

Trump's Warning

Trump also issued a warning to Canada and Mexico, suggesting that tariffs could become "much worse" if the countries do not address the trade deficit with the US and halt the flow of fentanyl into the country. This statement adds another layer of complexity to the ongoing trade negotiations and their impact on financial markets.