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Bitcoin Plummets Below $100K Amid Tariff Turmoil

2/2/2025

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Summary

Story summary

Bitcoin dropped below $100,000 amid market turmoil from President Trump's tariffs, erasing $200 billion from crypto markets.
Canada retaliated with 25% tariffs, while China intends to contest the U.S. at the WTO.
Inflation concerns from the tariffs are affecting interest rate expectations, fostering a risk-off sentiment in crypto.
Bitcoin declined by 2%, with Ethereum and Ripple also facing notable losses.

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Story summary

Bitcoin dropped below $100,000 amid market turmoil from President Trump's tariffs, erasing $200 billion from crypto markets.
Canada retaliated with 25% tariffs, while China intends to contest the U.S. at the WTO.
Inflation concerns from the tariffs are affecting interest rate expectations, fostering a risk-off sentiment in crypto.
Bitcoin declined by 2%, with Ethereum and Ripple also facing notable losses.