Why Are Bitcoin and Altcoins Falling? Drops of Up to 50% Created Shock Effect! - Coin Bulletin

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**As Bitcoin starts the new week with sharp declines, Ethereum's decline to levels not seen since September has led to massive declines in altcoins**In the Asian markets, Bitcoin fell to **$94,476** while testing **$91,441** in the morning. Ethereum, on the other hand, lost **24%** of its value and dropped to **$2,494**. This decline in the cryptocurrency markets gained momentum as investors shied away from risk amid **global uncertainties**.US President **Donald Trump** announced that he imposed a **25%** customs duty on imports from Mexico and Canada over the weekend, and a **10%** customs duty on goods from China. Canada and Mexico have announced that they will retaliate against this decision. China, on the other hand, announced that it will appeal to the **World Trade Organization**.Former U.S. President Donald Trump said on Sunday that his sweeping tariffs on Mexico, Canada and China could cause "short-term" hardship for Americans. While there are concerns in global markets that these tariffs could weaken economic growth and trigger inflation, Trump stated that he will definitely impose tariffs on the European Union. However, he did not disclose when this would happen.Trump, emphasizing that tariffs planned to be applied to the European Union will come into effect **very soon**, announced that he will hold discussions on tariffs with Canada and Mexico on Monday. Evaluating the current situation in Panama, Trump stated that deploying soldiers there is "not necessary."Cryptocurrencies have become an indicator reflecting the risk appetite in global markets since they are assets that also trade on weekends. Pepperstone Research Director Chris Weston said, “Crypto has become one of the best tools used to measure weekend risk appetite. In the face of such news, investors use crypto as a risk indicator.”According to CoinGecko data, ETH is at **$2,527.30** and has lost **19.2%** in the last 24 hours. XRP is at $2.33 and has dropped by **20.0%**. SOL is trading at $197.45 and has declined by **7.4%**. BNB is at $564.57 and has experienced a **14.3%** decrease. DOGE is at $0.2454 and has lost **19.6%**. ADA has fallen to $0.6893, a **22.7%** decrease. TRX is at $0.2205 and has declined by **9.2%**. LINK is at $18.37 and has experienced a **21.7%** decrease.Some altcoins generally experienced a sharp decline in value and showed losses of more than 50% over the weekend.