The cryptocurrency market is experiencing a downturn today, with major assets like Bitcoin (BTC) and Ethereum (ETH) facing significant declines.

Bitcoin has dropped over 4%, reaching a three-week low of approximately $96,606. Ethereum has also fallen around 12%, returning to levels last observed in early November. This downturn follows U.S. President Donald Trump's recent imposition of tariffs—25% on Mexican and most Canadian imports, and 10% on goods from China, effective Tuesday. These developments have heightened market anxieties, as investors associate tariffs with potential negative impacts on economic growth and corporate profits. Cryptocurrencies, which trade continuously, have been particularly sensitive to changes in broader market sentiment, with Bitcoin becoming a weekend risk proxy.

Additionally, the crypto market is navigating through regulatory delays with Ethereum ETFs and a significant number of cryptocurrency long liquidations, all contributing to the market's current state.

Investors should remain vigilant and consider these factors when making decisions in the current market environment.