Market Turbulence Hits Cryptocurrency

In a dramatic turn of events, Bitcoin's value dipped below $98,000 this Sunday. This significant drop comes in the wake of escalating market uncertainties, primarily fueled by US President Donald Trump's latest move to impose tariffs on Mexico, Canada, and China, with the European Union potentially facing similar measures.

Global Retaliation and Market Response

In retaliation, China, Canada, and Mexico have announced their own set of measures against the US. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods. The European Union has also voiced its criticism, threatening firm retaliation should European exports be targeted.

By 12:26 pm ET, Bitcoin had fallen by 3.05%, trading at $97,512. Ethereum wasn't spared either, experiencing a 3.60% drop to $3,003 a minute later.