The price of Bitcoin dropped below $101,600 as President Trump's administration confirmed imminent tariffs on China, Mexico, and Canada. This decline has resulted in a nearly 3% drop for Bitcoin, currently priced at $102,060. White House Press Secretary Karoline Leavitt stated that 25% tariffs would soon be implemented on Mexico and Canada, with a 10% tariff on China. Analysts note that such tariffs could indirectly pressure Bitcoin's price by strengthening the U.S. dollar. The Federal Reserve is also monitoring potential impacts on inflation from trade policy shifts. While Bitcoin had recently recovered some losses, the announcement led to significant selling, affecting other cryptocurrencies, including a 3% drop in XRP and over a 4% decrease in Solana. Meanwhile, Ethereum saw a price increase of 2%.

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