Bitcoin's value declined by 2,622 points, or 2.68%, to $95,059 following President Donald Trump's imposition of new trade tariffs on imports from Canada, Mexico, and China. In response, Canada has initiated a 25% tariff on $20.4 billion worth of U.S. goods, with Mexico also considering similar actions.
The global cryptocurrency market capitalization has dropped by 8% within 24 hours, affecting a range of cryptocurrencies, including Ethereum and Solana. Goldman Sachs projects that Trump's tariffs may lead to a 2% to 3% reduction in S&P 500 earnings per share, impacting investor confidence and influencing the downturn in cryptocurrency values.