Market Uncertainty Escalates

Following President Donald Trump's announcement of imposing tariffs on Canada, Mexico, and China, the cryptocurrency market experienced significant volatility. The uncertainty deepened when Trump hinted at new tariffs on the European Union, stating they would be implemented "pretty soon." This move has sent shockwaves through the market, affecting major cryptocurrencies.

Impact on Bitcoin and Ethereum

At 9:06 pm ET, Bitcoin's value decreased by 4.73%, dropping to $92,935. Simultaneously, Ethereum witnessed a sharp decline of 13.52%, with its value falling to $2,455. These fluctuations highlight the market's sensitivity to geopolitical events and trade policies.

Trump's Warning to Canada and Mexico

Trump also issued a stern warning to Canada and Mexico, suggesting that tariffs could become "much worse" if the two countries do not address the trade deficit with the US and curb the flow of fentanyl into the country. This statement adds another layer of uncertainty to the market, as investors gauge the potential impact of these policies on global trade and economic stability.