Bitcoin Crashes to $91K as Trump’s Trade Tariffs Shake Markets

Bitcoin plunged 10% on Monday, hitting $91,695.8, as a wave of selling swept through the crypto market. The sharp decline followed U.S. President Donald Trump’s decision to impose trade tariffs on China, Canada, and Mexico, sparking fears of a renewed trade war.

Wall Street futures slumped over 1.5%, reflecting growing risk aversion. The second-largest cryptocurrency, Ethereum, saw a steeper drop, plummeting 22.7% to $2,434.84. Meanwhile, $TRUMP, a memecoin launched by the President, hit a record low of $16.349 after shedding over 15%.

The tariffs—25% on imports from Canada and Mexico and 10% on Chinese goods—triggered immediate retaliation threats from all three countries, further dampening market sentiment. While Trump’s administration has signaled a friendlier stance on crypto regulation, his recent executive order calling for a regulatory framework failed to boost investor confidence.

The broader financial market also felt the pressure, with global equities sliding and the U.S. dollar surging to a one-month high. Gold saw modest gains as investors sought safe-haven assets. Analysts warned that Trump’s tariffs could fuel inflation, slow U.S. economic growth, and reduce the likelihood of interest rate cuts by the Federal Reserve.

As risk appetite weakens, Bitcoin and the crypto market remain highly volatile, with investors closely monitoring further developments in global trade policies.