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Bitcoin Sinks to $100K as Trump Imposes Tariffs on Canada, Mexico, China
Altcoins fared far worse than bitcoin as the new U.S. president seemingly ignited a trade war.
Por Stephen Alpher
What to know:
- President Trump on Saturday followed through on his threat to impose big tariffs on major trading partners.
- Trump cited the influx of illicit opioids and other drugs in his Executive Order authorizing the tariffs.
- Open for trade on the weekend, crypto markets are bearing the brunt of the risk-off mood.
Following through on threats made throughout his campaign and repeated in the opening days of his presidency, Donald Trump has imposed 25% tariffs on nearly all imports from Mexico and Canada and a 10% tariff on goods from China.
The tariffs are effective beginning Tuesday.
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"The sustained influx of illicit opioids and other drugs has profound consequences on our Nation, endangering lives and putting a severe strain on our healthcare system, public services, and communities," said the president in his Executive Order authorizing the levies.
With traditional markets closed for the weekend, crypto is bearing the brunt of the risk-off reaction to the tariffs. Bitcoin is lower by 2% and just hanging on above $100,000 after rising as high as $106,000 only a bit more than 24 hours ago.
Altcoins are faring worse, with ether , XRP, and solana lower by 6%-8%. The broad market gauge CoinDesk 20 Index is down 4.8%.
There will be no exemptions to the tariffs, a senior White House official told the WSJ, and they will remain in place until the president is satisfied the named countries have stopped the flow of fentanyl into the U.S.
"No one — on either side of the border — wants to see American tariffs on Canadian goods," wrote outgoing Canadian Prime Minister Justin Trudeau on X yesterday. "If the United States moves ahead, Canada’s ready with a forceful and immediate response."
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Lo que debes saber:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Crypto CEOs Join U.S. CFTC's Innovation Council to Steer Market Developments
The chief executives of firms such as Gemini and Kraken will pitch in on U.S. policy efforts through the council's future, public discussions.
Lo que debes saber:
- In her final days atop the agency, Commodity Futures Trading Commission Acting Chairman Caroline Pham announced her CEO Innovation Council, replete with crypto executives.
- The names include the chief executives from Gemini, Kraken, Polymarket, Bitnomial and several others.
- The CFTC is expected to get its permanent chairman very soon when the Senate votes on the confirmation of Mike Selig, President Donald Trump's nominee.
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