Bitcoin's Value Takes a Hit

In a surprising turn of events, Bitcoin's value plummeted below the $98,000 mark this Sunday. This significant drop comes in the wake of heightened market uncertainty, spurred by President Donald Trump's aggressive trade policies.

Trade Tensions Intensify

Trump's decision to impose tariffs on key trading partners, including Mexico, Canada, and China, has not only rattled global markets but also prompted immediate retaliatory measures. Canada, for instance, has proposed imposing 25% tariffs on $155 billion worth of American goods, signaling a potential trade war escalation.

Global Reactions and Market Impact

The European Union has also voiced its concerns, warning of firm retaliation should Trump target European exports. Amidst these developments, the cryptocurrency market felt the tremors, with Ethereum also experiencing a 3.60% drop, trading at $3,003 shortly after Bitcoin's decline.