Bitcoin is lower for three weeks as Trump governs tariffs in Canada and Mexico

Key takeout

Bitcoin prices have fallen by 3.9% due to new tariffs from President Trump.
Crypto Market has lost $110 billion today.

Bitcoin fell 3.9% today, down three weeks, deepening its selling in the broader crypto market, which has wiped out more than $110 billion in value after President Trump announced new tariffs on imports from Canada and Mexico. Ta.

The largest digital assets are at a minimum of $92,400 since February 2, and the decline accelerated after Trump confirmed tariffs on Mexican and Canadian imports “to the future.”

Destruction: President Trump has announced that 25% tariffs in Canada and Mexico will officially be launched on March 4, 2025.

“The tariffs are moving forward on schedule. This is an abuse that has been happening over the years. And I don't even blame any other country… pic.twitter.com/meya07vvyx

– George (@behizytweets) February 24, 2025

Trump signed the executive order on February 1, imposing a 25% tariff on all products imported from Canada and Mexico, with a 10% rate on Canadian energy resources.

The administration cited “national emergency” related to illegal immigration, including fentanyl, and drug trafficking, as justification for the measure. Customs duties are scheduled to begin application on March 4, 2025.

The overall market slump has affected major crypto assets, with Solana down 14%, XRP down about 10%, and Ethereum down nearly 10%. BNB saw a more “conservative” 5.5% decline.