Market Uncertainty Escalates

United States President Donald Trump's recent tariff announcements have sent shockwaves through the cryptocurrency market. Bitcoin and Ethereum experienced significant drops late Sunday, as market uncertainty grew following Trump's decision to impose tariffs on Canada, Mexico, and China. The situation worsened after Trump hinted at new tariffs on the European Union, stating they would come "pretty soon."

Impact on Cryptocurrencies

By 9:06 pm ET, Bitcoin's value had decreased by 4.73%, settling at $92,935. Ethereum faced a more dramatic drop, plummeting 13.52% to $2,455. These movements reflect the market's reaction to the escalating trade tensions and the potential for further economic disruptions.

Future Tariffs and Warnings

Trump also warned that tariffs against Canada and Mexico could intensify if the trade deficit with the US is not addressed and the flow of fentanyl into the country is not curbed. This statement adds another layer of uncertainty to the global trade environment and its impact on the cryptocurrency market.