Bloomberg: Crypto markets suffered major blow from risk-averse moves after Trump announced tariffs

Odaily Planet Daily News BTC Markets CEO Caroline Bowler said: "Trump's tariff war is affecting the entire market, and concerns about a trade war and stagflation-induced recession are spreading to the altcoin and Bitcoin markets." BTC fell to around $97,000, the lowest level in more than two weeks. Specifically, BTC fell 4.3% in trading last Sunday, ETH fell 8%, and the altcoin sell-off was more intense. Including DOGE, which fell about 14% during the trading session, fell 45% from the highs reached after Trump's victory on December 8 last year stimulated a rebound in digital assets. Altcoins such as XRP, ADA, AVAX and LINK all fell more than 10%. (Bloomberg) On February 1, local time, the US government announced that it would impose a 25% tariff on imports from Canada and Mexico. US President Trump signed a tariff order that day, imposing an additional 25% tariff on imports from Canada and Mexico and a 10% tariff on energy resources from Canada. The tariffs are tentatively scheduled to take effect on the 4th. The White House said that if there is retaliation against the US tariffs, the US may increase the tariffs.