Global Markets React to Trump's Tariff Decision

In a dramatic turn of events, Bitcoin's value dipped below $98,000 this Sunday. This decline comes in the wake of growing market uncertainty, sparked by US President Donald Trump's controversial decision to impose tariffs on Mexico, Canada, and China. The European Union is also on the radar, potentially facing similar measures.

Retaliatory Measures from Affected Countries

In response to Trump's tariffs, China, Canada, and Mexico have announced their own retaliatory measures. Notably, Canada has proposed imposing a 25% tariff on $155 billion worth of American goods. The European Union has also voiced its criticism, warning of firm retaliation should European exports be targeted.

Impact on Cryptocurrency Markets

At 12:26 pm ET, Bitcoin was observed to be down by 3.05%, trading at $97,512. Shortly thereafter, Ethereum also experienced a downturn, sliding by 3.60% to sell for $3,003. This market movement underscores the sensitivity of cryptocurrency valuations to global trade tensions.