Bitcoin dips below $92,000 amid Trump's tariffs; Dogecoin, XRP down over 24%
Bitcoin, the world's largest cryptocurrency by market value, fell to a low of $91,242.89 on Monday morning in Asia. However, it was trading 6.6% lower at $92,991 by 10:35 AM IST. Meanwhile, Ethereum dropped over 20%, returning to levels last seen in early September, last fetching $2,470.
Other major crypto tokens also saw sharp declines, with XRP down 24%, Solana 8.8%, BNB 16.6%, Dogecoin 25.1%, Cardano 27%, Tron 12%, Chainlink 23%, Avalanche 25%, and Sui 22%. Official Melania Meme and OFFICIAL TRUMP fell 12% and 16%, respectively.
The downturn followed the weekend’s news that U.S. President Donald Trump had imposed 25% tariffs on most Mexican and Canadian imports, and a 10% tariff on Chinese goods, effective Tuesday.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»Canada and Mexico, the top two U.S. trading partners, immediately vowed retaliatory measures, while China announced plans to challenge the tariffs at the World Trade Organization.
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
S
