"Bitcoin Plunges 11% as Trump's Tariffs Spark Market Uncertainty"

Bitcoin (BTC) experienced a significant drop on Monday, as market uncertainty returned following President Donald Trump's reaffirmation of tariffs on Canada and Mexico, set to commence on March 4. Both countries vowed to retaliate, sending markets into a tailspin. The flagship cryptocurrency plummeted over 11% in the past 24 hours, retreating from a high of $94,344 to its current level of $82,800.

Spot Bitcoin ETFs registered $74 million in outflows on Monday, aligning with the capital retreat from the asset. BlackRock's IBIT led outflows with nearly $78 million withdrawn, while Grayscale's GBTC also saw significant outflows of over $54 million. However, Ark21Shares ARKB registered inflows of around $58 million, signaling selective investor confidence.

According to data from TradingView, BTC plunged almost 9% on Monday, extending its decline into the current session. This wiped out 289,815 positions worth $978 million over the past 24 hours. The sell-off was exacerbated by President Trump's reaffirmation of tariffs against Canada and Mexico, with both countries vowing to retaliate. The prospect of an escalating trade war with China also dampened market sentiment after China announced retaliatory tariffs. The surprise inclusion of Ripple (XRP), Cardano (ADA), and Solana (SOL) in the crypto strategic reserve also divided the crypto community, with initial euphoria quickly turning into skepticism.

Economist Peter Schiff called for an investigation into President Trump's Truth Social posts, claiming they helped pull off the biggest crypto rug pull of all time. Schiff stated that Trump orchestrated a "pump and dump" scheme and demanded to know who had advance notice of the posts in question.

Bitcoin (BTC) registered a significant rally over the weekend as it reclaimed $90,000 after Donald Trump announced the strategic crypto reserve. However, market sentiment changed on Monday, erasing all the weekend gains as market experts accused Trump of manipulating the market with the announcement. Market sentiment was also impacted after industry experts criticized the inclusion of ADA, XRP, and even SOL in the strategic reserve. Castle Island Ventures General Partner Nic Carter stated, "It's