🎩🎩♟️♟️🧲🧲
Donald Trump's decision to impose tariffs on imports from Canada, Mexico, and China led to a steep drop in bitcoin and broader equity markets on Monday, turning investors' focus from Trump's pro-crypto stance to immediate economic repercussions.
Monday’s major liquidation event offered a "buy-the-dip" opportunity to traders, as a CoinDesk analysis noted, with the tariff announcements sparking interest in dollar-backed stablecoins as a hedge against economic uncertainty and currency volatility.
However, the imposition of tariffs could lead to retaliatory measures from affected countries, potentially sparking a broader trade war and leading to further volatility across the crypto market in the days to come.
