Singapore February 3 2025: Cryptocurrency prices slid on Monday, with bitcoin at a three-week low and ether at its lowest since early September, as the spectre of a global trade war put investors on edge and pushed them out of risky assets.
Bitcoin , the world’s biggest and best-known crypto, fell to $94,476.18 on Monday morning in Asia, touching a three-week low of around $91,441.89. Smaller cryptocurrency ether was down around 24% and back to levels last seen in early September. It last fetched $2,494.33.
Over the weekend, U.S. President Donald Trump imposed 25% tariffs on Mexican and most Canadian imports, and 10% on goods from China, starting on Tuesday.
Canada and Mexico, the top two U.S. trading partners, immediately vowed retaliatory measures, and China said it would challenge Trump’s levies at the World Trade Organization.
Cryptocurrencies trade around the clock, including on weekends, and have lately been sensitive to markets’ broader sentiment. Investors worry that tariffs can hurt growth and company earnings as well as be inflationary.
