Bitcoin's Continued Decline

In a significant downturn, Bitcoin has fallen below the $90,000 mark, reaching its lowest point since November 2024. This decline is part of a broader downward trend that has gripped the cryptocurrency market.

Investor Pessimism and Presidential Policies

The crypto market's slump seems to be influenced by President Donald Trump's recent announcement. He reaffirmed that tariffs on goods from Mexico and Canada will be implemented on March 4. This decision has introduced a wave of uncertainty regarding its potential impact on the global market, contributing to the prevailing pessimism among cryptocurrency investors.

Market Impact

Minutes after hitting a three-month low, Bitcoin experienced a 2.43% drop at 2:30 am ET, with its value standing at $89,995. Ethereum also saw a significant decrease, plummeting by 5.96% to a value of $2.363,7623.