Bitcoin Prices Fall Due to Trump’s Tariff Policies
Bitcoin experienced a 3.5% drop on Tuesday as President Donald Trump’s tariff policies caused turmoil in the crypto markets. The digital currency fell to $79,000 following Trump’s announcement of additional 25% tariffs on Canadian steel and aluminum imports. However, it quickly rebounded to $81,200 as U.S. stock markets opened.
Impact on Bitcoin Amid Trade Tensions
This recent decline is part of a challenging period for Bitcoin, as it struggles to maintain momentum amidst escalating trade tensions. The market’s reaction reflects concerns about how protectionist trade policies could affect the broader economy. Back in February, when Trump initially announced tariffs on China, Mexico, and Canada, Bitcoin plummeted below $100,000, resulting in significant losses across the crypto market.
Current Bitcoin Trends
Despite the recent drop, Bitcoin has seen a 6% increase in the past 12 hours, reaching $77,000 overnight. This demonstrates the volatile nature of the cryptocurrency market and the impact of external factors such as trade policies on digital assets.
