Bitcoin drops to three-week low as Trump tariffs rattle markets
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Bitcoin, the world's biggest cryptocurrency, hit a three-week low of $91,441.89 overnight and stood at $95,730.35 at 0941 GMT, down 6.2% on the day. Smaller cryptocurrency ether has lost nearly 25% in value since Friday, marking its biggest three-day loss since November 2022. It last fetched $2,592.14.
Over the weekend, US President Donald Trump imposed 25% tariffs on Mexican and most Canadian imports, and 10% on goods from China, starting on Tuesday.
Canada and Mexico, the top two US trading partners, immediately vowed retaliatory measures, and China said it would challenge Trump's levies at the World Trade Organisation.
Almost a quarter of the 100 largest cryptocurrencies have lost 20% or more in value over the last 24 hours, according to CoinGecko data.
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