The cryptocurrency market has experienced a sharp decline, influenced by global trade tensions and movements in traditional financial markets. The announcement by U.S. President Donald Trump of new tariffs of 25% on imports from Mexico and Canada, and 10% on Chinese products, has generated concern among investors, leading to a widespread sell-off of risk assets, including cryptocurrencies.

Bitcoin, the leading cryptocurrency in the market, fell by 4.1% and was trading at approximately $95,400. Ethereum, the second largest cryptocurrency by market capitalization, suffered an even steeper decline, dropping by 17% to $ 2.577. In total, the value of the global cryptocurrency market has fallen from around $3.6 trillion the previous Friday to approximately $3.1 trillion.