Market Uncertainty Following Trump's Tariff Announcement

President Donald Trump's recent decision to impose tariffs on Canada, Mexico, and China has sent shockwaves through the cryptocurrency market. Bitcoin and Ethereum experienced significant drops as market uncertainty grew. Trump's announcement of potential new tariffs on the European Union further exacerbated the situation.

Impact on Cryptocurrency Prices

At 9:06 pm ET, Bitcoin's value decreased by 4.73%, trading at $92,935. Ethereum saw a more dramatic decline, plummeting by 13.52% to $2,455. These price movements reflect the market's reaction to the potential for increased trade tensions and their impact on global economic stability.

Trump's Warning to Canada and Mexico

Trump also issued a warning to Canada and Mexico, stating that tariffs could become "much worse" if the two countries do not address the trade deficit with the US and take steps to prevent fentanyl from entering the country. This statement has added another layer of uncertainty to the market, affecting investor confidence in cryptocurrencies.