Bitcoin (BTC), the world’s leading cryptocurrency, fell below $91,000 on February 25, 2025, after reports of U.S. President Donald Trump’s tariffs on Mexico and Canada triggered a sell-off in the crypto market.
This is the second time Trump’s tariffs have impacted Bitcoin, highlighting its increasing sensitivity to macroeconomic events.
In the past 24 hours, Bitcoin dropped more than 4.5%, reaching its lowest point since late November. The broader crypto market also saw losses, with the total market cap falling 8%, from $3.31 trillion to $3.09 trillion. Ethereum (ETH) dropped 8.5%, and XRP fell 9%, trading at $2.25.
Memecoins, especially on Solana, suffered steep declines. Solana lost about $50 billion in market value over the past month, due to the Libra memecoin scandal.
The price of Official Trump (TRUMP), a Solana-based coin tied to President Trump, has dropped more than 75%. Additionally, $1.72 billion worth of SOL will be unlocked on March 1, increasing market pressure.
Trump stated that the U.S. was “on time with the tariffs” on Canada and Mexico, following questions about whether tariffs would be imposed once the pause period ended. His comments led to Bitcoin’s price slipping below $91,000, reaching $90,707.
This crash caused nearly $1 billion in liquidations across the crypto market, according to Coinglass.
Earlier in February, the crypto market lost over $2 billion in a historic liquidation event after Trump imposed a 25% tariff on imports from Canada and Mexico. Analyst James CryptoGuru noted that Trump’s actions have wiped out $734 billion from the crypto market since he began his second term in January.
