US President Donald Trump has raised customs duties on goods from neighboring countries. This has had a negative impact on the crypto market, as investors have decided to distance themselves from risky, highly volatile assets.
Bitcoin fell by 6.6% in 24 hours to $91,231. Ether plummeted by 24%, with ETH falling to $2,000 on some exchanges. Other altcoins were also affected by the bearish trend: BNB fell by 18% to $500, and SOL fell by 9% to $175.
The decline in cryptocurrency prices occurred after Donald Trump imposed 25% tariffs on imports from Mexico and Canada, as well as 10% duties on goods from China.
Earlier, Trump signed an executive order on the development of the crypto industry. The American government formed a task force to develop clear rules for regulating cryptocurrency business in the United States, as well as to study the possibility of creating a state crypto reserve.
