Bitcoin's Downward Spiral Continues

In a startling turn of events, Bitcoin has once again found itself in troubled waters, plummeting below the $90,000 mark. This recent dip marks the cryptocurrency's lowest valuation since November 2024, sending shockwaves through the investment community.

The crypto market's downturn appears to be influenced by the reaffirmation of tariffs on goods from Mexico and Canada by United States President Donald Trump. Set to take effect on March 4, these tariffs have introduced a layer of uncertainty, affecting investor sentiment and the global market at large.

Market Reaction and Ethereum's Plunge

Following Bitcoin's descent, Ethereum wasn't spared from the market's volatility. At 2:30 am ET, Ethereum experienced a significant drop of 5.96%, trading at $2,363.7623. This simultaneous decline underscores the interconnected nature of the cryptocurrency market and its susceptibility to external economic factors.