Why Bitcoin, Ethereum, and Dogecoin Crashed This Weekend
The crypto market was in tatters late Sunday night after traders realized there wouldn't be a tariff reprieve before global stock markets opened Monday morning. Bitcoin (CRYPTO: BTC) fell below $100,000 and looked like it could break $90,000 before bouncing a bit. As of 10:00 a.m. ET Monday, Bitcoin is down 5.7% since the market closed on Friday and 2.1% in the last 24 hours.
Ethereum (CRYPTO: ETH) was the big mover, dropping over 20% within an hour on Sunday night. As I'm writing, the token is down 21.3% from Friday's close and 14.8% in the past 24 hours. Dogecoin (CRYPTO: DOGE) was another big loser, falling 21.4% since Friday and 12.8% in the past day.
The move in crypto was sparked by tariffs on goods imported from Mexico, Canada, and China that President Donald Trump announced on Saturday. That began a slew of retaliatory announcements from each country that could make exports more difficult.
Source Fool.com
