Bitcoin's Downward Spiral Continues

In a dramatic turn of events, Bitcoin has once again found itself in troubled waters, plummeting below the $90,000 mark. This recent drop marks the cryptocurrency's lowest point since November 2024, sending ripples of concern through the global crypto community.

Trump's Tariff Announcement: A Catalyst for Crypto Uncertainty

The crypto market's unease seems to be partly fueled by U.S. President Donald Trump's recent reaffirmation of tariffs on goods from Mexico and Canada. Scheduled to take effect on March 4, these tariffs have introduced a layer of uncertainty regarding their potential impact on the global market, further exacerbating the crypto sell-off.

Market Reaction: A Closer Look at the Numbers

In the early hours of Tuesday, Bitcoin experienced a sharp decline, dropping 2.43% to $89,995 at 2:30 am ET. Ethereum wasn't spared either, witnessing a significant 5.96% drop, with prices falling to $2,363.7623. This downturn reflects the growing pessimism among investors, as the crypto market navigates through these turbulent times.