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Bitcoin slides below $100,000 as tariffs rattle markets

  • The U.S.-China trade war has escalated under President Trump, with both nations imposing significant tariffs on each other's goods, impacting global markets and technology sectors.
  • Bitcoin's value dropped by 2.68% to $95,059 following the announcement of new tariffs, which also affected other cryptocurrencies like Ethereum and Dogecoin.
  • Canada and Mexico announced retaliatory tariffs of 25% on U.S. Imports, while China plans to challenge the tariffs at the World Trade Organization.
  • Goldman Sachs estimates that Trump's tariffs could reduce S&P 500 earnings per share by 2% to 3%, highlighting the economic uncertainty affecting various markets.
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Coinpri broke the news in on Sunday, February 2, 2025.
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