Cryptocurrencies tumbled on Sunday in a risk-off move after President Donald Trump hit Canada, Mexico and China with long-threatened import tariffs.

New Trump tariffs raise inflation fears, sparking $2B in crypto liquidations and Bitcoin's dramatic plunge to $92,000.

CRYPTOCURRENCY prices slid on Monday (Feb 3), with bitcoin at a three-week low and ether at its lowest since early September, as the spectre of a global trade war put investors on edge and pushed them out of risky assets.

SINGAPORE (Reuters) -Cryptocurrency prices slid on Monday, with bitcoin at a three-week low and ether at its lowest since early September, as the spectre of a global trade war put investors on edge and pushed them out of risky assets.

US tariffs imposed by President Trump have led to a significant downturn in the cryptocurrency market, with Bitcoin dropping 5% and Ether crashing over 26%. Smaller tokens also experienced declines, as investors reacted to the new trade measures against China,

Bitcoin tanked. It hit $92,681 less than an hour ago before bouncing slightly to $93,831. That’s a 7% drop. Ether wasn’t spared either, crashing 20% to its lowest point since November. The market meltdown began after President Donald Trump threw his trade-war punch Saturday night.