Bitcoin Price Plunges Below $89,000 as Market Fears Rise

The cryptocurrency market has experienced a significant downturn after President Trump reinstated tariffs on Canada and Mexico, resulting in a drop below the $3 trillion global crypto market capitalization. This decline has pushed Bitcoin’s price below $89,000 for the first time since November 2024, fueling concerns about an impending bearish trend. Market sentiment has drastically turned negative, reminiscent of the FTX crash.