Bitcoin experienced a significant drop of 2.3% over the past 24 hours, trading just below $103,000. This decline follows President Trump’s announcement of imposing 25% tariffs on Mexico and Canada starting February 1. Initially, bitcoin had rallied over $106,000 before the tariff news, but quickly reversed 2% lower to around $104,000. Despite a brief hope of a delay in the tariffs until March 1, the White House refuted this, confirming the tariffs, including a 10% levy on China, would go into effect as planned. The broader CoinDesk 20 Index fell by 1.3%, though ether (ETH) saw a slight increase of 1.2%. Meanwhile, U.S. stocks, while still modestly higher, did not reach their session highs.
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