Bitcoin Drops to $91K as EU–US Tariff Tensions Trigger Crypto Crash
The European Union announced plans to retaliate against the U.S. in response to new tariffs imposed by President Trump, triggering a significant cryptocurrency market crash. Bitcoin dropped from approximately $95,000 to $91,000 in early Monday trading, erasing recent gains and leading to over $850 million in liquidations. The overall crypto market cap fell by 3%, with altcoins following Bitcoin’s decline. The market has lost over $110 billion since mid-January. Trump’s tariff announcement, which includes a 10% levy on goods from major EU countries starting February 1 and a potential increase to 25% by June 1 if a deal on Greenland is not reached, was met with threats of retaliation from the EU. The legality of the tariffs is still under review by the U.S. Supreme Court, adding to market uncertainty.
TheNewsCrypto01/19 09:36
