Market Uncertainty Grows as Tariffs Take Effect

Following US President Donald Trump's decision to impose tariffs on Mexico, Canada, and China, Bitcoin fell below $98,000 on Sunday. The move has sparked retaliatory measures from the affected countries, intensifying market uncertainty.

Retaliatory Measures Announced

In response to the tariffs, China, Canada, and Mexico have announced their own measures. Notably, Canada is proposing 25% tariffs on $155 billion worth of American goods. The European Union has also criticized Trump's actions, warning of firm retaliation if European exports are targeted.

Impact on Cryptocurrencies

At 12:26 pm ET, Bitcoin was down 3.05%, trading at $97,512. Shortly after, Ethereum slid 3.60%, selling for $3,003. The trade war's escalation is having a noticeable impact on the cryptocurrency market, with investors closely monitoring the situation.