The crypto market has suffered a significant downturn, with Bitcoin losing the $100,000 mark amid new tariffs announced by US President Donald Trump on imports from China, Mexico, and Canada. This has resulted in a 9.7% drop in the total market capitalization, falling to $3.07 trillion on February 3, marking the lowest level since November 2024. The announcement led to a sell-off in cryptocurrencies, with ETH and XRP both falling over 16%. Additionally, over $2.25 billion in crypto positions were liquidated, exacerbating the market's decline as fear among investors increased. Overall, the crypto market has lost over $700 billion in just four days, dropping from a high of $3.57 trillion. Key support levels were broken, leading to further bearish sentiments as investors await potential rebounds from support levels around $2.81 trillion or more. This wave of liquidations, already one of the largest on record, highlights the market's volatility and sensitivity to political and economic factors. Investors are now urged to conduct thorough research before making trading decisions.

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