Market Uncertainty Spurs Bitcoin Decline

As the global markets reel from the impact of US President Donald Trump's decision to impose tariffs on Mexico, Canada, and China, Bitcoin has seen a significant dip, falling below the $98,000 mark. This move has sparked a wave of uncertainty, with the European Union also expressing concerns over potential future tariffs on their exports.

Retaliatory Measures Announced

In a swift response, China, Canada, and Mexico have announced their own set of retaliatory measures. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods, signaling a potential escalation in trade tensions.

Impact on Cryptocurrency Markets

At 12:26 pm ET, Bitcoin's value decreased by 3.05%, trading at $97,512. Shortly after, Ethereum also witnessed a decline, dropping by 3.60% to $3,003. These movements highlight the cryptocurrency market's sensitivity to global economic tensions and policy changes.