On Tuesday, Bitcoin (BTC) tumbled below the $90,000 threshold, exacerbating the ongoing decline in the cryptocurrency market. This downturn has been fueled by anticipations of US tariffs on Mexico and Canada, set to commence on March 4, as stated by President Donald Trump.
The looming tariffs have injected uncertainty into global trade, prompting many investors to cut back on high-risk investments. Consequently, the cryptocurrency market experienced an approximate 8% drop. Bitcoin’s fall below the $90,000 mark led to a staggering loss of over $230 billion in total cryptocurrency market capitalization.
