Monday saw steep drops in Bitcoin and other major cryptocurrencies as a general market sell-off was triggered by rising trade tensions brought on by U.S. President Donald Trump's recently announced tariffs on China, Canada, and Mexico.


Bitcoin dropped 6.2% by 02:01 ET (07:01 GMT) to $94,088.1.

The Bitcoin fell to its lowest level in three weeks, hitting an intraday low of $91,69.80.

The market capitalisation of Ethereum, the second-largest cryptocurrency, fell precipitously as well, falling 18% to $2,567.26, a level not seen since early November.

Following Trump's tariffs, Bitcoin declines amid a wider sell-off.
Investor fear over a possible global trade war has increased in tandem with the crypto market's decline.

President Trump's imposition of a 10% tax on Chinese goods and a 25% tariff on imports from Canada and Mexico has heightened worries about possible liquidity problems and growing inflation.

Investors are shifting away from riskier assets, such as cryptocurrencies, as a result of these developments, which have caused a risk-off mentality throughout the financial markets.

The market for cryptocurrencies, which is notoriously volatile, is especially susceptible to macroeconomic variables like trade regulations and inflation projections, according to analysts.

Global supply networks are expected to be disrupted by the latest tariffs, which might raise production costs and consumer prices. Investors are reevaluating their exposure to digital assets in light of the uncertain climate and possible economic slowdown.

An imminent economic slump was blamed by analysts for the market turmoil, and they suggested that investors think about buying assets at a discount during this time.

Today's cryptocurrency price: US tariffs cause liquidity concerns, and most altcoins fall

Token prices had previously increased due to expectations of more lenient crypto rules under Trump's administration, but the revelation of the tariff had a bigger effect on market sentiment.


As a result of a greater risk-off attitude, the majority of cryptocurrencies fell far more than Bitcoin.

Global cryptocurrency XRP fell over 19% to $2.3579.

Cardano dropped 22%, Polygon fell 19%, and Solana fell 15.5%.

Dogecoin saw a 17% decline in value among meme tokens, while President Trump's meme coin $TRUMP saw a 14% decline following a record low of $16.349.