Crypto Market Sees $1 Billion Wipeout Following Donald Trump’s Tariff Confirmation
Crypto markets crashed during the late hours of the US session on Monday, causing millions in liquidations as Bitcoin (BTC) extended its leg down. The crash followed reports on US President Donald Trump’s tariffs against Mexico and Canada, triggering a sell-off.
It marks the second instance where the president’s tariffs influence crypto markets, highlighting Bitcoin’s growing reaction to macroeconomic events.
Bitcoin and Crypto Markets React To Trump’s Tariffs
Trump said the US was ‘on time with the tariffs’ on Canada and Mexico. According to Reuters, this followed an inquisition on whether tariffs would be placed on Canadian and Mexican goods once the agreed deadline for a pause arrives next week. In response, Trump…
