Bitcoin drops below $100,000 as Trump imposes tariffs on China, Canada, and Mexico

Bitcoin has fallen below $100,000 for the first time in six days after US President Donald Trump signed an executive order imposing import tariffs on goods from China, Canada, and Mexico. The three countries have already retaliated, and the crypto industry is divided on how this will affect the broader market. The tariffs could raise inflation, leading to higher interest rates, which typically causes investors to move away from riskier assets like crypto and toward more traditional assets like bonds and term deposits. Around $22.70 million in long positions were liquidated in the four hours leading up to publication, according to CoinGlass data.