Trade war concerns deepen in the crypto markets. Bitcoin saw the bottom of 3.5 months by testing below $80,000. Ethereum also dropped to $2,100.

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

Thus, losses in Bitcoin have approached nearly 20% since the beginning of the week, reaching the 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 tested below $2,100, reaching its lowest level since December 2024.