The price of Bitcoin dropped to a multi-week low following President Trump's announcement of reactivated tariffs on imports from Canada and Mexico, causing concerns about inflation. The announcement triggered market volatility, with Bitcoin falling below $95,000 and Ethereum dropping 11%. The broader crypto market also saw losses, resulting in $880 million in long position liquidations. Additionally, bills proposing Bitcoin reserves in several US states, including Montana, North Dakota, Wyoming, and South Dakota, were defeated.



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