This was primarily caused due to US President Donald Trump imposing a volley of strict tariffs on several nations at once. The market reacted, and other popular altcoins — including the likes of Ethereum (ETH),

US President Donald Trump imposed 25% tariffs on Mexican and most Canadian imports, and 10% on goods from China, starting on Tuesday. Canada and Mexico, the top two US trading partners, immediately vowed retaliatory measures,

New Trump tariffs raise inflation fears, sparking $2B in crypto liquidations and Bitcoin's dramatic plunge to $92,000.

Prices of cryptocurrencies including Bitcoin and Ethereum plunged on Monday after US President Donald Trump announced tariffs on Canadian, Mexican and Chinese imports, as investors offloaded risky assets.

With a 25 per cent tariff on Canada and Mexico, and 10 per cent on China effective from Tuesday, US President Donald Trump has kicked off his promise of protectionist trade policies, triggering a fresh trade war with America’s top three trade partners that are also the largest contributors to its nearly $1 trillion trade deficit.

US tariffs imposed by President Trump have led to a significant downturn in the cryptocurrency market, with Bitcoin dropping 5% and Ether crashing over 26%. Smaller tokens also experienced declines, as investors reacted to the new trade measures against China,

Bitcoin tanked. It hit $92,681 less than an hour ago before bouncing slightly to $93,831. That’s a 7% drop. Ether wasn’t spared either, crashing 20% to its lowest point since November. The market meltdown began after President Donald Trump threw his trade-war punch Saturday night.