Bitcoin (BTC) Market Bloodbath After US President Donald Trump Announces New Tariffs

Bitcoin and other top coins saw a bloodbath early Monday as US President Donald Trump announced a slew of tariffs on a handful of countries

Cryptocurrency prices experienced a turbulent week as geopolitical developments and shifting market dynamics influenced the overall market trajectory. Bitcoin (BTC) and other top coins faced a downturn early Monday following an announcement by U.S. President Donald Trump to impose new tariffs on Canada, Mexico, and China.

The cryptocurrency market saw a significant downturn on Monday, triggered by an announcement from U.S. President Donald Trump. The move to impose new tariffs on Canada, Mexico, and China led to widespread selloffs in the market.

Bitcoin price dropped sharply in the wake of the news, falling below the $100,000 threshold. At the time of writing, BTC price hovered around $94,000, indicating a substantial drop from its recent highs.

Edul Patel, CEO of Mudrex, observed that Bitcoin’s correction around the $92,500 support level presents an attractive entry point for investors.

“If BTC stabilizes above $95,000, it could gain enough momentum to test the $100,000 mark soon. However, volatility may persist as geopolitical factors unfold,” he noted.

Highlighting the impact of the tariff move, CoinSwitch Markets Desk noted one of the largest crypto liquidations in recent times, amounting to $2 billion within 12 hours.

Despite this downturn, BTC’s dominance rose sharply to 61%, suggesting a cautious market sentiment in the backdrop of geopolitical shifts and economic concerns.

Pi42 CEO Avinash Shekhar emphasized that Bitcoin’s movement below $100,000 signals a critical point for both bulls and bears.

“Support levels at $95,000 and $90,000 will determine the next move for Bitcoin amid the broader market uncertainty,” Shekhar noted.

Unocoin co-founder Sathvik Vishwanath referenced analysis by ALI analyst Martinez, who flagged the potential formation of a bearish trend.

“If Bitcoin breaks below $98,200, a deeper correction is possible. Conversely, a rise beyond $102,800 could invalidate this bearish outlook,” Vishwanath explained, urging investors to monitor key levels like $97,190 for additional support.

Despite the market’s current instability, BuyUcoin CEO Shivam Thakral expressed a long-term optimistic outlook.

“The recent dip below $95,000 reflects broader market stress, but Bitcoin may emerge as a hedge against economic instability,” he noted. Investors are eyeing the $90,000 support level for possible stabilization before a potential rally.

The CoinDCX Research Team reported that Bitcoin recently plunged below the $100,000 mark, reaching lows near $91,000. The price drop wiped out nearly $500 billion from the market.

Altcoins, including Ethereum, XRP, and Solana, also faced sharp declines, with memecoins seeing losses of up to 15%.

As global economic conditions continue to shift, market participants remain vigilant, monitoring key support and resistance levels while assessing Bitcoin’s resilience against geopolitical and macroeconomic pressures.

Mudrex co-founder and CPO Alankar Saxena told ABP Live, "Bitcoin recorded its first-ever monthly close above $100,000 in January.

However, the market then consolidated amid rising inflation concerns following President Trump’s imposition of import tariffs on goods from China, Canada, and Mexico. While Bitcoin has since begun recovering after finding support at $92,500, investors need to closely monitor the labour market trends and Fed policy expectations in the coming weeks. If next week’s labour market data indicates subdued economic activity, Bitcoin could rally further, potentially pushing beyond the $100K mark.”

Thangapandi Durai, CEO and Founder, Koinpark, said, “Last week was eventful for crypto. Bitcoin dropped over 4%, falling below $100,000, while Ethereum lost around 12%. A broader tech selloff, partly triggered by China’s AI startup DeepSeek, seemed to shake investor confidence. In the US Trump's administration showed strong support for crypto. I saw reports of high-profile gatherings like the Crypto Ball, with key figures shaping new policies. They’re even pushing for a federal crypto stockpile and making bank access easier for crypto firms.”

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