Bitcoin's Continued Decline

On a day marked by significant market movements, Bitcoin once again found itself on a downward trajectory, breaching the $90,000 threshold to hit its lowest point since November 2024. This decline has sparked widespread concern among crypto investors, highlighting the volatile nature of the cryptocurrency market.

Impact of U.S. Tariff Policies

The recent downturn in Bitcoin's value seems to be closely tied to the reaffirmation by U.S. President Donald Trump regarding the implementation of tariffs on goods from Mexico and Canada. Set to take effect on March 4, these tariffs have introduced a layer of uncertainty into the global market, affecting investor confidence and contributing to the crypto market's instability.

Market Reaction

Following the announcement, Bitcoin experienced a sharp decline, dropping 2.43% at 2:30 am ET to trade at $89,995. Similarly, Ethereum faced a significant drop, plummeting 5.96% to sell for $2,363.7623. These movements underscore the sensitivity of the cryptocurrency market to global economic policies and announcements.