Bitcoin slides toward $90,000 after Trump orders tariffs

U.S. President-elect Donald Trump and Bitcoin.

Cryptocurrencies tumbled on Sunday in a risk-off move after President Donald Trump hit Canada, Mexico and China with long-threatened import tariffs.

The price of bitcoin was last lower by 7% at $93,768.66, according to Coin Metrics. The CoinDesk 20 index, which measures the largest 20 digital assets by market cap, dropped 19%. Ether slumped 20% to its lowest level since November.

The slide began Saturday night after Trump signed an order imposing 25% tariffs on imports from Mexico and Canada, as well as a 10% duty on China, which will take effect Tuesday. The U.S. does about $1.6 trillion in business with the three countries.

Jeff Park, Bitwise Asset Management’s head of alpha strategies, said a sustained tariff war will be “amazing” for bitcoin in the long-run due to an eventual weakening of the dollar and U.S. rates.

While many believe bitcoin is a hedge against inflation and uncertainty over the long term, it trades like a risk asset in the short term — and is likely to respond negatively to any uncertainty around the trade war triggered by Trump’s tariffs.

Investors are watching $90,000 as the key support level in bitcoin, and some have warned of an even deeper pullback toward $80,000 should the cryptocurrency meaningfully break below its support.

Bitcoin is about 16% off its Jan. 20 record of $109,350.72. Seasoned crypto investors and traders have become accustomed over the years to corrections of around 30% during bull markets.

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  • ethereumEthereum (ETH) $ 3,585.39
  • xrpXRP (XRP) $ 2.95
  • tetherTether (USDT) $ 0.999807
  • bnbBNB (BNB) $ 750.23
  • solanaSolana (SOL) $ 163.17
  • usd-coinUSDC (USDC) $ 0.999800
  • staked-etherLido Staked Ether (STETH) $ 3,582.64
  • tronTRON (TRX) $ 0.332003
  • dogecoinDogecoin (DOGE) $ 0.198907
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  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 113,844.00
  • wrapped-stethWrapped stETH (WSTETH) $ 4,336.36
  • hyperliquidHyperliquid (HYPE) $ 38.13
  • stellarStellar (XLM) $ 0.395903
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  • wrapped-beacon-ethWrapped Beacon ETH (WBETH) $ 3,851.97
  • chainlinkChainlink (LINK) $ 16.31
  • bitcoin-cashBitcoin Cash (BCH) $ 548.24
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  • wrapped-eethWrapped eETH (WEETH) $ 3,846.30
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • avalanche-2Avalanche (AVAX) $ 21.72
  • litecoinLitecoin (LTC) $ 120.30
  • wethWETH (WETH) $ 3,586.80
  • leo-tokenLEO Token (LEO) $ 8.98
  • usdsUSDS (USDS) $ 0.999498
  • the-open-networkToncoin (TON) $ 3.23
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  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999691
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  • uniswapUniswap (UNI) $ 9.49
  • polkadotPolkadot (DOT) $ 3.60
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  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.19
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  • ethenaEthena (ENA) $ 0.579988
  • daiDai (DAI) $ 0.999792
  • bittensorBittensor (TAO) $ 338.59
  • ethereum-classicEthereum Classic (ETC) $ 20.06
  • mantleMantle (MNT) $ 0.897303
  • nearNEAR Protocol (NEAR) $ 2.43
  • ondo-financeOndo (ONDO) $ 0.917410
  • aptosAptos (APT) $ 4.23
  • okbOKB (OKB) $ 45.06
  • internet-computerInternet Computer (ICP) $ 5.03
  • pi-networkPi Network (PI) $ 0.344230
  • jito-staked-solJito Staked SOL (JITOSOL) $ 199.30
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • kaspaKaspa (KAS) $ 0.085775
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,586.60
  • usd1-wlfiUSD1 (USD1) $ 0.999586
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.033499
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  • fasttokenFasttoken (FTN) $ 4.58
  • arbitrumArbitrum (ARB) $ 0.382383
  • vechainVeChain (VET) $ 0.022784
  • gatechain-tokenGate (GT) $ 16.32
  • cosmosCosmos Hub (ATOM) $ 4.19
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.211414
  • susdssUSDS (SUSDS) $ 1.06
  • bonkBonk (BONK) $ 0.000024
  • render-tokenRender (RENDER) $ 3.50
  • story-2Story (IP) $ 6.04
  • worldcoin-wldWorldcoin (WLD) $ 0.936395
  • official-trumpOfficial Trump (TRUMP) $ 8.64
  • jupiter-perpetuals-liquidity-provider-tokenJupiter Perpetuals Liquidity Provider Token (JLP) $ 4.87
  • binance-staked-solBinance Staked SOL (BNSOL) $ 173.39
  • rocket-pool-ethRocket Pool ETH (RETH) $ 4,081.08
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.642451
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  • skySky (SKY) $ 0.076306
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,762.34
  • filecoinFilecoin (FIL) $ 2.32
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 113,661.00
  • hash-2Provenance Blockchain (HASH) $ 0.032392
  • xdce-crowd-saleXDC Network (XDC) $ 0.093190
  • spx6900SPX6900 (SPX) $ 1.60
  • usdtbUSDtb (USDTB) $ 0.999794
  • jupiter-exchange-solanaJupiter (JUP) $ 0.462235
  • usdt0USDT0 (USDT0) $ 1.00
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 3,772.33
  • kucoin-sharesKuCoin (KCS) $ 10.48
  • liquid-staked-ethereumLiquid Staked ETH (LSETH) $ 3,873.67
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,842.34
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  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998166
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  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,790.55
  • solv-btcSolv Protocol BTC (SOLVBTC) $ 113,780.00