- Donald Trump and Justin Trudeau to speak today
- Trump’s tariffs brought the prices of cryptos down
- Altcoins suffered the worst, and even Bitcoin wasn’t immune
Following the U.S. tariffs over Canada, Donald Trump and Canadian Prime Minister Justin Trudeau are set to speak today to address rising trade tensions.
The tariffs are set to take effect on February 4. In response, Trudeau asserted that Canada will retaliate with equivalent tariffs on US goods.
Crypto World Reacts to Tariff Shock
Combined with tariffs on Mexico and China, plus threats toward the European Union with the same actions, Trump’s latest actions have caused chaos in the crypto world.
Bitcoin and Ether suffered steep price drops. The former fell below $100,000, reaching a three-week low of $91,441.89. As the second-largest cryptocurrency, Ether dropped to $2,494.33, its lowest point since early September.
Altcoins Take a Harder Hit
Altcoins have borne the brunt of it. For instance, XRP experienced a 9.7% decline, trading at $2.35. Other coins, such as Solana and Cardano, also faced significant losses amid the escalating trade tensions.
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