Market Uncertainty Grips Bitcoin

As US President Donald Trump's decision to impose tariffs on Mexico, Canada, and China takes effect, Bitcoin has seen a significant drop, falling below $98,000. This move has sparked a wave of uncertainty across global markets, with the European Union also potentially facing tariffs.

Retaliatory Measures and Market Reactions

In retaliation, China, Canada, and Mexico have announced their own measures against the US. Canada, for instance, has proposed 25% tariffs on $155 billion worth of American goods. The European Union has also voiced strong criticism against Trump's decision, warning of firm retaliation if European exports are targeted.

Impact on Cryptocurrency Prices

At 12:26 pm ET, Bitcoin was down by 3.05%, trading at $97,512. Shortly after, Ethereum experienced a 3.60% drop, selling for $3,003. This downturn reflects the growing concerns among investors about the potential global economic impact of the escalating trade war.