Why is Crypto Down Today? Trump Tariffs and Regulatory Delays

Coin Gabbar07 Feb, 2025Business

The recent downturn in the cryptocurrency market can be attributed to several factors, notably President Donald Trump's announcement of new tariffs on imports from Canada, Mexico, and China. This move has introduced significant uncertainty, leading investors to adopt a more cautious approach. Consequently, major cryptocurrencies like Bitcoin and Ethereum have experienced notable declines. For instance, Bitcoin's price fell below $100,000, and Ethereum's value dropped by over 26% to $2,135, marking its steepest loss in nearly four years.