Market Uncertainty Spurs Bitcoin and Ethereum Decline

In a dramatic turn of events, Bitcoin's value plummeted below $98,000 this Sunday, as the global markets reacted nervously to President Donald Trump's aggressive trade policies. The imposition of tariffs on major trading partners, including Mexico, Canada, and China, has sparked fears of a looming trade war, with the European Union also potentially in the line of fire.

Retaliatory Measures and Global Criticism

In response to Trump's tariffs, China, Canada, and Mexico have not stood idle. Canada, for instance, has proposed imposing a 25% tariff on $155 billion worth of American goods. Meanwhile, the European Union has voiced strong criticism against Trump's decision, threatening firm retaliation should European exports be targeted. This escalating trade conflict has added to the market's volatility, impacting cryptocurrencies significantly.

Cryptocurrency Market Reacts

At precisely 12:26 pm ET, Bitcoin experienced a 3.05% drop, trading at $97,512. Shortly thereafter, Ethereum also saw a decrease, falling by 3.60% to $3,003. These fluctuations underscore the sensitivity of the cryptocurrency market to global economic tensions and policy changes.