Trade war concerns deepen in the crypto markets. Bitcoin hit a low of under $80,000, marking a 3.5-month low. Ethereum also dropped to $2,100.

There is tariff tension in the cryptocurrency markets. US President Donald Trump announced that tariffs on Mexico and Canada would take effect from March 4 due to the continued flow of drugs into the US from these countries. Trump also stated that an additional 10% tariff would be imposed on China from March 4. Following Trump’s announcement, selling intensified in risky markets, leading to a sharp decline in the crypto markets. Bitcoin tested below $80,000 with a loss of over 5% on the last trading day of the week.

As a result, losses in Bitcoin have approached 20% since the beginning of the week, reaching its lowest level since November 11. The leading cryptocurrency experienced a 27% drop from its peak of $109,000 on January 20. The market’s second-largest asset, Ethereum, also dropped below $2,100, hitting its lowest level since December 2024.