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The price of Bitcoin 
$108,883 stood at $89,400 at the time of writing. The President of Ukraine continues to make negative statements that escalate tensions. Recent U.S. PMI data was released, and new information emerged regarding tariffs from Canada. All these events unfolded within minutes.
Why Did Cryptocurrencies Drop?
As U.S. markets opened, the positive sentiment surrounding cryptocurrencies began to dissipate. The President of Ukraine indicated that peace with Russia is still very far away. Trump had previously aimed for a significant step towards a peace agreement by April.
Political Tensions Affecting the Market
Despite the recently strained relations, Ukrainian President Volodymyr Zelensky expressed his expectation to continue receiving American support. However, Trump disagrees and may soon restrict spending for Ukraine.
Minutes ago, Canadian Energy Minister Wilkinson stated in an interview with CNBC that “Canada will retaliate if the U.S. imposes tariffs. I would start looking at products sold in large quantities to Canada by American companies.”
The Chief Economist of S&P in the U.S., Williamson, commented on the recent PMI data, stating; “The PMI reaching its highest level in 32 months indicates only an improvement that may be deeply rooted in the manufacturing sector’s health.”
The whirlwind of developments keeps Bitcoin’s price below $90,000.
