---
title: "Bitcoin drops to three-week low as Trump reignites tariffs on Canada and Mexico"
url: https://diffcoin.com/bitcoin-drops-to-three-week-low-as-trump-reignites-tariffs-on-canada-and-mexico/
description: "Bitcoin price drop to three-week low amid Trump's tariffs on Canada and Mexico. $110 billion crypto market selloff."
published: 2025-02-24
updated: 2025-02-24
author: "Mila"
site: "Diffcoin"
---

# Bitcoin drops to three-week low as Trump reignites tariffs on Canada and Mexico

### Key Takeaways

- Bitcoin price is down 3.9% due to new tariffs from President Trump.
- The crypto market experienced a $110 billion loss today.

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Bitcoin fell 3.9% today to a three-week low after President Trump announced new tariffs on imports from Canada and Mexico, deepening a broader crypto market selloff that erased more than $110 billion in value.

The largest digital asset traded around $92,400, its lowest level since February 2, with the decline accelerating after Trump confirmed tariffs on Mexican and Canadian imports “are going forward.”

> BREAKING: President Trump just announced that the 25% tariff on Canada and Mexico will officially start on March 4, 2025
> 
> “The tariffs are going forward on time, on schedule. This is an abuse that took place for many, many years. And I’m not even blaming the other countries that… [pic.twitter.com/MEYa07vvyx](https://t.co/MEYa07vvyx)
> 
> — George (@BehizyTweets) [February 24, 2025](https://twitter.com/BehizyTweets/status/1894122123343577590?ref_src=twsrc%5Etfw)

Trump signed executive orders on February 1 imposing a 25% tariff on all products imported from Canada and Mexico, with a lower 10% rate on Canadian energy resources.

The administration cited a “national emergency” related to illegal immigration and drug trafficking, including fentanyl, as justification for the measures. The tariffs are scheduled to start to apply on March 4, 2025.

The market-wide downturn affected major crypto assets, with Solana dropping 14.2%, XRP falling 10.4%, and Ethereum declining 9.71%. BNB saw a more ‘modest’ decrease of 5.5%.

Caption

The $110 billion in market-wide liquidations represents one of the largest dollar-volume declines in crypto market history.

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