Market Turbulence Following Trump's Tariff Announcement

In a dramatic turn of events, United States President Donald Trump's announcement of new tariffs has sent shockwaves through the cryptocurrency market. Bitcoin and Ethereum experienced significant price drops late Sunday, as investors reacted to the uncertainty surrounding Trump's trade policies.

Impact on Cryptocurrencies

Bitcoin's value decreased by 4.73%, falling to $92,935, while Ethereum saw a more drastic drop of 13.52%, plummeting to $2,455. This market reaction underscores the sensitivity of cryptocurrencies to global economic policies and trade tensions.

Trump's Stance on Tariffs

Trump's firm stance on implementing tariffs on Canada, Mexico, and China, along with the potential for new tariffs on the European Union, has created a climate of uncertainty. The President emphasized that these measures would be enacted "pretty soon," further escalating concerns among investors and traders in the cryptocurrency market.