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Recently, altcoins had not risen significantly, but they have started to decline again alongside the drop in Bitcoin (BTC) 
$93,271, which fell just below $103,300. This decline caused Ethereum (ETH) 
$2,447 prices to suddenly plummet to $3,300. What is the reason behind this cryptocurrency downturn?
Why Are Cryptocurrencies Falling?
The White House has been making a series of announcements. As of February 1, certain decisions regarding additional tariffs will come into effect. Is it happening this quickly? Yes, indeed. This will have short-term effects on inflation and the U.S. economy. Consequently, while U.S. stock markets have started to decline, BTC has begun searching for new lows. Those looking for short-selling opportunities have not received such clear signals in a long time.
Trump is set to meet with Nvidia’s CEO at 14:30 ET, where discussions about China’s DeepSeek may also arise. A summary of the White House statements is as follows:
“Trump has not decided on a timeline for tariffs on the EU. He will respond to Trudeau’s comments in due time. We do not see a trade war beginning with Canada. Tariffs will be 25% for Canada and Mexico, while China will face a 10% tariff. The tariffs will be made public on Saturday.
There is no update on exemptions. Reuters’ report regarding tariffs is incorrect.”
White House Press Secretary Leavitt reiterated that the deadline for Canada and Mexico tariffs is February 1.
