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Over the weekend, President Trump announced new tariffs on imports from the U.S.’s top trading partners—Canada, Mexico, and potentially China—triggering a decline in the cryptocurrency market.

(Bloomberg) -- Donald Trump’s moves to impose tariffs on major US trading partners sparked a selloff in cryptocurrencies, with an index of smaller tokens on track for the steepest two-day rout in almost three years. Most Read from BloombergNew York’s First ‘Passive House’ School Is a Model of Downtown DensityWhen French Communists Went on a Brutalist Building BoomTrump Paves the Way to Deputize Local Police on ImmigrationHow the 2025 Catholic Jubilee Is Reshaping RomeHistoric London Elevator Fac

On Feb. 3, Asian crypto stocks experienced significant declines as Bitcoin fell to $91,163, marking its lowest level in over three weeks.

Crypto market suffers $2.29 billion in liquidations, surpassing COVID and FTX crashes. Fears of a global trade war spark sell-offs, hitting Bitcoin, Ether, and major altcoins.

Bitcoin slid to about $95,000 Sunday night into Monday morning, while a number of cryptocurrency-related stocks also sank in premarket trading as the market reacts to the potential impact of the new tariffs rolled out by the Trump administration over the weekend.

Your day-ahead look for Feb. 3, 2025

Your day-ahead look for Feb. 3, 2025