The crypto market suffered a major setback, with the global market cap dropping 4.90% to $2.99 trillion due to panic selling. This was triggered by Donald Trump confirming that U.S. import tariffs on Canada and Mexico will proceed after a temporary halt, leading to fears of broader economic concerns. Over $914 million in liquidations occurred in 24 hours, causing investors to worry about potential ripple effects on financial markets. Bitcoin price declined by 4.03% to $91,839.04, dragging down the broader crypto landscape including Ethereum, Solana, and XRP. However, a few assets such as IP token saw gains of 27.20%. The market decline was led by Lido DAO, SUI, and AAVE.



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