Market Uncertainty Grips Investors

As the trade war initiated by US President Donald Trump escalates, Bitcoin has taken a significant hit, falling below the $98,000 mark. This downturn comes in the wake of Trump's decision to impose tariffs on Mexico, Canada, and China, with the European Union potentially next in line.

Retaliatory Measures Announced

In response to these tariffs, China, Canada, and Mexico have announced their own retaliatory measures. Notably, Canada has proposed a 25% tariff on $155 billion worth of American goods, signaling a stiff resistance to Trump's trade policies.

Global Criticism and Bitcoin's Plunge

The European Union has also voiced its criticism, warning of firm retaliation should European exports be targeted. Amidst this global trade tension, Bitcoin was observed down by 3.05% at 12:26 pm ET, trading at $97,512, with Ethereum also experiencing a 3.60% drop to $3,003 shortly thereafter.