Bitcoin's Steep Decline

On Tuesday, Bitcoin experienced a significant drop, falling below the $90,000 mark, a level not seen since November 2024. This decline marks a continuation of the cryptocurrency's recent downward trend.

Impact of Tariff Announcements

The downturn in Bitcoin's value is largely attributed to the uncertainty surrounding the global market's reaction to U.S. President Donald Trump's announcement that tariffs on goods from Mexico and Canada will proceed as scheduled on March 4.

Market Reaction

Following the announcement, Bitcoin's value dipped by 2.43% at 2:30 am ET, selling for $89,995. Similarly, Ethereum saw a sharp decline of 5.96%, with its value dropping to $2,363.7623.