Market Uncertainty Triggers Bitcoin and Ethereum Price Drop

In a surprising turn of events, Bitcoin's value dropped below $98,000 this Sunday. This significant decrease is largely attributed to the growing market uncertainty following President Donald Trump's controversial decision to impose tariffs on Mexico, Canada, and China. The European Union is also under threat of being next in line for these tariffs.

Retaliatory Measures Announced by Affected Countries

In response to Trump's tariffs, China, Canada, and Mexico have announced retaliatory measures. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods. The European Union has also voiced its criticism of Trump's actions, warning of firm retaliation if European exports are targeted.

Impact on Cryptocurrency Market

At 12:26 pm ET, Bitcoin experienced a 3.05% drop, trading at $97,512. Shortly after, Ethereum also saw a decrease, sliding down by 3.60% to sell for $3,003. This market reaction highlights the sensitivity of cryptocurrency values to global economic policies and trade tensions.