Market Turbulence Hits Cryptocurrencies

In a dramatic turn of events late Sunday, the cryptocurrency market experienced significant volatility. United States President Donald Trump's assertive tariff policies have sent shockwaves through the financial world, impacting both Bitcoin and Ethereum.

Trade War Fears Escalate

Market uncertainty was already palpable following Trump's decision to impose tariffs on Canada, Mexico, and China. The situation escalated further when Trump hinted at new tariffs on the European Union, stating they would come "pretty soon." He also warned that tariffs against Canada and Mexico could intensify if trade deficits and fentanyl issues are not addressed.

Impact on Cryptocurrencies

By 9:06 pm ET, Bitcoin had dropped 4.73% to $92,935, while Ethereum saw a more significant decline of 13.52%, falling to $2,455. These movements highlight the sensitivity of cryptocurrencies to global economic policies and trade tensions.