Market Uncertainty Grows

As US President Donald Trump announced the imposition of tariffs on Mexico, Canada, and China, the cryptocurrency market felt the tremors. Bitcoin's value dipped below $98,000, reflecting the growing uncertainty in global markets.

Retaliatory Measures Announced

In a swift response, China, Canada, and Mexico have unveiled retaliatory tariffs. Notably, Canada has proposed a 25% tariff on $155 billion worth of American goods. The European Union has also voiced its concerns, threatening firm retaliation should Trump target European exports.

Impact on Cryptocurrencies

At 12:26 pm ET, Bitcoin experienced a 3.05% drop, trading at $97,512. Ethereum wasn't spared either, witnessing a 3.60% decrease, with its value settling at $3,003 a minute later.