Market Uncertainty Hits Cryptocurrency

Following President Donald Trump's decision to impose tariffs on Mexico, Canada, and China, Bitcoin has experienced a significant drop, falling below $98,000. This move has sparked a wave of uncertainty across global markets, affecting not just traditional investments but also the volatile cryptocurrency market.

Retaliatory Measures Announced

In response to the tariffs, China, Canada, and Mexico have announced retaliatory measures. Canada, for instance, has proposed imposing 25% tariffs on $155 billion worth of American goods. The European Union has also expressed its dissatisfaction, warning of firm retaliation if European exports are targeted.

Impact on Cryptocurrency Prices

At 12:26 pm ET, Bitcoin was down 3.05%, trading at $97,512. Shortly after, Ethereum also saw a decline, dropping 3.60% to $3,003. These movements highlight the sensitivity of cryptocurrency prices to global economic tensions and trade policies.