The post Crypto Market Rebounds as Trump Pauses Tariffs on Canada and Mexico – CryptoNinjas appeared on BitcoinEthereumNews.com.

Key Takeaways: Crypto markets rebounded after the US suspended tariffs on Canada and Mexico. Bitcoin and Ether prices recovered sharply from the tariff-induced lows. The US, Mexico, and Canada agreed on border security to curb drug trafficking and illegal immigration. The cryptocurrency market has been highly volatile, with prices quickly recovering from recent losses. This volatility stemmed from the U.S. initial decision to impose tariffs on goods from Canada and Mexico, triggering a sharp market reaction. The big events both make the point that world policies are connected and at the same time signal that digital assets are in a delicate situation. Tariffs Initially Send Crypto Market Tumbling The situation unfolded rapidly. Just one weekend, the ex-President of the United States, Donald Trump, said that the U.S. would impose high tariffs on the main imports such as those of Canada, Mexico, and China. The information made a big noise in the financial markets, including the sector of cryptocurrency. An estimated $10 billion was wiped out from the crypto market capitalization. Specifically, Bitcoin dropped from a high of nearly $105,000 to a low of approximately $92,000. Similarly, Ether went down to about $2,451. Other cryptocurrencies, including Dogecoin and even Trump’s own meme coin, were not spared. Some of these assets plunged more than 75% from their previous highs. Garrick Hileman, a crypto analyst, mentioned that the fall in meme coins should not worry investors as they are purely speculative in nature and that Bitcoin’s ability to withstand a market collapse, compared to other cryptocurrencies, was indeed impressive. The sudden loss of value was a clear warning sign of the hazards induced by the unpredictability of the digital asset space, which becomes ever so volatile when geopolitical uncertainties are a factor. More News: Bitcoin Plummets Below 100,000 USD Amid Trump’s Import Tariffs…

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Filed under: News - @ February 4, 2025 6:18 am