Bloomberg: Crypto markets suffered major blow from risk-averse moves after Trump announced tariffs

Odaily News “Trump’s tariff war is affecting the entire market, and concerns about a trade war and stagflation-induced recession are spreading to altcoin and bitcoin markets,” said Caroline Bowler, CEO of BTC Markets. BTC fell to around $97,000, its lowest level in more than two weeks.
Specifically, BTC fell 4.3% and ETH fell 8% in trading last Sunday, while the selling of altcoins was even more intense. Including DOGE, which fell about 14% during the trading session, a 45% drop from the high reached after Trump's victory on December 8 stimulated a rebound in digital assets. Altcoins such as XRP, ADA, AVAX and LINK all fell by more than 10%. (Bloomberg)
On February 1, local time, the US government announced that it would impose a 25% tariff on imports from Canada and Mexico. US President Trump signed a tariff order on the same day, imposing an additional 25% tariff on imports from Canada and Mexico and a 10% tariff on energy resources from Canada. The tariffs are tentatively scheduled to take effect on the 4th. The White House said that if the US tariffs are retaliated, the US may increase the tariffs.