$BTC

Why Did Bitcoin Price Drop Again to US$102,000?

Why Did Bitcoin Price Drop Again to US$102,000?



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Bitcoin price fell sharply on Friday, with the figure below US$101,600, after US President Donald Trump announced new tariff plans for China, Mexico and Canada. In the past 24 hours, Bitcoin has fallen almost 3 percent, with the current price around US$102,060.

Reporting from decrypt.co, White House Press Secretary Karoline Leavitt confirmed that President Donald Trump will soon impose a 25 percent tariff on imports from Mexico and Canada, as well as a 10 percent tariff on China. This policy will take full effect after being announced on Saturday (1/2/2025).

Not only Bitcoin, the financial market also reacted negatively to this announcement. The S&P 500 index fell by 0.5 percent, the Nasdaq Composite weakened by 0.3 percent and the Dow Jones Industrial Average plunged 338 points. There are indications that investors seem concerned that this trade policy will hamper economic growth and investment.