Philenews

Cryptocurrencies Plunge Amid Fears of New Tariffs

Published January 19, 2026, 08:17
Cryptocurrencies Plunge Amid Fears of New Tariffs

The cryptocurrency market experienced a sharp decline, with Bitcoin falling as much as 3.6% to below $92,000. Other cryptocurrencies, including Ether and Solana, saw even larger losses, reaching 4.9% and 8.6% respectively. The total value of the cryptocurrency market decreased by approximately $100 billion. This downturn is linked to Donald Trump's announcement of tariffs on eight European countries, sparking concerns about the global economy and increasing demand for safe-haven assets like gold and silver. Trump's statements led to a drop in US stock market indices and strong reactions from European leaders, who are threatening to freeze trade agreements.