Market Uncertainty Rises as Tariffs Take Effect

Bitcoin's value dropped below $98,000 this Sunday, as the market reacts to President Donald Trump's latest 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 retaliation, China, Canada, and Mexico have announced their own measures. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods. The European Union has also voiced its criticism, warning of firm retaliation if European exports are targeted.

Cryptocurrency Market Impact

At 12:26 pm ET, Bitcoin was down by 3.05%, trading at $97,512. Shortly after, Ethereum also saw a decrease, sliding 3.60% to $3,003.