Bitcoin's Downward Spiral Continues

On Tuesday, Bitcoin's value continued to decline sharply, falling below the $90,000 mark, reaching its lowest point since November 2024. This significant drop has raised concerns among cryptocurrency investors worldwide.

Impact of Trump's Tariff Announcement

The downturn in Bitcoin's value is closely linked to recent statements by United States President Donald Trump. He reaffirmed that tariffs on goods from Mexico and Canada, previously delayed, are set to take effect on March 4. This announcement has introduced a wave of uncertainty regarding its potential impact on the global market, further fueling the pessimism among crypto investors.

Market Reactions

Following the news, Bitcoin experienced a 2.43% drop at 2:30 am ET, with its value standing at $89,995. Similarly, Ethereum saw a significant decrease, plummeting by 5.96% to a value of $2,363,7623. These movements highlight the volatile nature of the cryptocurrency market in response to global economic policies.