Market Uncertainty Grows

Bitcoin experienced a significant drop, falling below $98,000 on Sunday. This decline comes in the wake of US President Donald Trump's decision to impose tariffs on Mexico, Canada, and China, with the European Union potentially facing similar actions.

Retaliatory Measures Announced

In response to Trump's tariffs, China, Canada, and Mexico have announced retaliatory measures. Notably, Canada has proposed imposing 25% tariffs on $155 billion worth of American goods. The European Union has also voiced strong criticism, warning of firm retaliation if European exports are targeted.

Impact on Cryptocurrency Market

At 12:26 pm ET, Bitcoin was down by 3.05%, trading at $97,512. Shortly after, Ethereum also saw a decline, dropping by 3.60% to $3,003.