Cryptocurrency giant Bitcoin has experienced a significant decline, falling below the $90,000 mark as of Tuesday morning. The drop is largely attributed to reports that President Donald Trump’s tariffs against Mexico and Canada are impacting the crypto market. This latest event underscores how macroeconomic events can significantly influence cryptocurrency markets. 24-hour trading data shows Bitcoin has fallen by 4.5%, dropping from its recent peak of $91,000. This marks a significant reversal following a period of growth fueled by positive sentiment towards President Trump’s potential regulatory approach to the crypto industry. A month ago, Bitcoin surged past the $109,000 mark shortly before President-elect Donald Trump’s inauguration. This latest price drop coincides with a broader decline across the cryptocurrency market, as total market capitalization has shed 8% from over $3.3 trillion to approximately $3.09 trillion. Ethereum (ETH) is also experiencing losses, down by 8.5% to less than $2,500, while XRP lost 9% of its value and trades at $2.25. The volatility in the crypto market has led to significant selling pressure, particularly among speculative assets.