Market Uncertainty Grows Amid New Tariffs

In a dramatic turn of events, Bitcoin's value dipped below the $98,000 mark this Sunday. This significant drop comes in the wake of US President Donald Trump's latest move to impose tariffs on Mexico, Canada, and China, with the European Union potentially next in line.

Retaliatory Measures Announced

In response to the US tariffs, China, Canada, and Mexico have not stood idle. Canada, for instance, has proposed a 25% tariff on $155 billion worth of American goods. Similarly, the European Union has voiced strong criticism against Trump's decision, threatening firm retaliation should European exports be targeted.

Cryptocurrency Market Reacts

At 12:26 pm ET, Bitcoin was observed to have decreased by 3.05%, trading at $97,512. Ethereum also experienced a downturn, sliding by 3.60% to $3,003 shortly thereafter. This market reaction underscores the growing concerns over global trade tensions and their impact on cryptocurrency valuations.