Bitcoin drops below $100,000 as Trump imposes tariffs on China, Canada, and Mexico

Cointime2025/02/02 05:33

By: Cointime

Bitcoin has fallen below $100,000 for the first time in six days after US President Donald Trump signed an executive order imposing import tariffs on goods from China, Canada, and Mexico. The three countries have already retaliated, and the crypto industry is divided on how this will affect the broader market. The tariffs could raise inflation, leading to higher interest rates, which typically causes investors to move away from riskier assets like crypto and toward more traditional assets like bonds and term deposits. Around $22.70 million in long positions were liquidated in the four hours leading up to publication, according to CoinGlass data.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14

New spot margin trading pair — LINEA/USDT!

Bitget Announcement•2025/09/11 10:04

Bitcoin drops below $100,000 as Trump imposes tariffs on China, Canada, and Mexico

You may also like

Trending news

Crypto prices