Bitcoin's Continued Decline

On Tuesday, Bitcoin's value continued to drop, falling below the $90,000 mark for the first time since November 2024. This decline marks a significant moment in the cryptocurrency market, reflecting growing pessimism among investors.

Impact of US Tariffs

The downturn in Bitcoin's value is closely linked to US President Donald Trump's announcement that tariffs on goods from Mexico and Canada will take effect on March 4. The uncertainty surrounding these tariffs and their potential impact on the global market has contributed to the crypto market's instability.

Market Reaction

Following the announcement, Bitcoin experienced a sharp decline, dropping 2.43% to $89,995 at 2:30 am ET. Ethereum also saw a significant decrease, plummeting 5.96% to $2,363.7623. These movements highlight the volatile nature of the cryptocurrency market in response to global economic policies.