Trump's Tariffs Spark Crypto Bloodbath: Bitcoin Plunges to $9K, $760B Wiped Out

Bitcoin and crypto markets experienced a significant downturn over the weekend, with Bitcoin (BTC) dropping to its lowest levels since January 13. The sell-off was triggered by U.S. President Donald Trump's decision to impose 25% tariffs on imports from Canada and Mexico, sparking fears of a new trade war. The BTC/USD pair fell to near $90,000, with billions of dollars wiped off the market in a matter of hours.

The crypto market's combined market cap fell by as much as 21% over three days, totaling a reduction of $760 billion. The U.S. Dollar Index (DXY) reached its highest point since January 13, indicating a shift away from riskier assets. Bitcoin speculators are now facing a critical test as the market searches for a potential bottom, with the short-term holders' cost basis being closely watched as a potential support level.

Major cryptocurrencies, such as Ether (ETH-USD) and XRP (XRP-USD), also experienced significant declines, mirroring fears spreading across global markets. With S&P 500 futures down 1.4% and the tech-heavy Nasdaq 100 losing 1.7%, Bitcoin may face further pressure, given its historical correlation with U.S. equity markets.

Robert Kiyosaki, the renowned author of Rich Dad Poor Dad, took to social media to express his views on the market downturn. He called the current market drop an excellent opportunity for those looking to build wealth. "Brutal crash here now. The stock, bond, real estate, gold, silver, and Bitcoin markets are crashing. The best assets in the world are going on sale. Millions will lose their jobs. This is the best time to get rich. Do not be a loser. Stay cool. Take care," Kiyosaki stated in the post.

Despite the widespread market turmoil, Kiyosaki remains bullish on Bitcoin and other assets. He has consistently warned of a market selloff and believes that downturns like these create wealth-building opportunities for those prepared to invest when prices are low. Kiyosaki's investment philosophy, which emphasizes buying assets during periods of fear and selling during euphoria, aligns with his latest advice to investors.