tl;dr
The article reports that Bitcoin dropped below $92,000 due to President Trump's plan to impose tariffs on imports from Canada and Mexico. The wider crypto market also experienced a sharp downturn, with major digital assets falling more than 10% across the board. Analysts believe that continued volat...
Bitcoin (BTC) dropped below $92,000 on Monday as President Donald Trump reaffirmed his administration’s plan to impose tariffs on imports from Canada and Mexico, triggering a widespread sell-off across markets.
The wider crypto market experienced a significantly sharper downturn following the announcement, with major digital assets falling more than 10% across the board over the past 24 hours.
The sudden downturn highlights the crypto market’s vulnerability to geopolitical and macroeconomic developments. At the time of press 1:08 am UTC on Feb. 25, 2025, Bitcoin is ranked #1 by market cap and the price is down 4.67% over the past 24 hours. At the time of press 1:08 am UTC on Feb. 25, 2025, the total crypto market is valued at at $2.98 trillion with a 24-hour volume of $136.62 billion.
Based on CryptoSlate data, the flagship crypto fell almost 5% over the past 24 hours to a local low of $90,850 — marking its lowest level since Feb. 2. Bitcoin was down 4.46% over the past day and trading at $91,931 as of press time. The wider crypto market, which was already reeling from the recent Bybit hack, went into freefall as selling pressure intensified after Trump confirmed that the tariffs would take effect as scheduled on March 4.
The wider crypto market experienced a significantly sharper downturn following the announcement, with major digital assets falling more than 10% across the board over the past 24 hours. Ethereum (ETH) fell 10.61% to $2,523.37, while XRP declined 10.85% to $2.30, and Solana (SOL) suffered the steepest drop among top assets, falling 14.85% to $143.13 as of press time. Cardano (ADA) also saw a significant decline, losing 10.96% and trading at $0.6859, while BNB posted relatively lower losses, falling 6.55% to $615.13.
The sell-off resulted in nearly $800 million in leveraged positions liquidated over the past 24 hours as traders faced margin calls amid plummeting asset prices. Long positions accounted for about $600 million, while short positions comprised approximately $200 million.
The sudden downturn highlights the crypto market’s vulnerability to geopolitical and macroeconomic developments. Analysts believe that continued volatility is likely as investors reassess risk in response to shifting trade policies and global economic uncertainty. The evolving tariff situation, along with potential retaliatory measures from Canada and Mexico, could further impact digital asset markets in the coming weeks. Traders remain on edge as they brace for additional market fluctuations ahead of the March 4 implementation deadline.
At the time of press 1:08 am UTC on Feb. 25, 2025, Bitcoin is ranked #1 by market cap and the price is down 4.67% over the past 24 hours. Bitcoin has a market capitalization of $1.82 trillion with a 24-hour trading volume of $47.63 billion.
At the time of press 1:08 am UTC on Feb. 25, 2025, the total crypto market is valued at at $2.98 trillion with a 24-hour volume of $136.62 billion. Bitcoin dominance is currently at 61.05%.