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Bitcoin falls below $100,000 after Trump imposes tariffs on Canada, Mexico, and China
On Saturday, the new US president imposed 25% tariffs on almost all imports from Mexico and Canada, as well as a 10% tariff on goods from China.
In his executive order authorizing the tariffs, he cited the influx of illegal opioids and other drugs.
With traditional markets closed for the weekend, cryptocurrencies are bearing the brunt of the reaction. Bitcoin fell 2.5% below $100,000.
🇻🇦 Altcoins fared worse, with Ethereum, XRP, and Solana all falling 6-8%.