2025-02-03 Market Watch: Bitcoin struggles amid political tensions and trade wars

Here is what happened yesterday in the crypto market:

Bitcoin Trades Below $100K Due to Canadian Retaliation

Bitcoin (BTC) faces its third consecutive day of losses, trading weakly below the $100,000 mark. This decline is largely attributed to heightened fears surrounding inflation related to a renewed trade war, especially as Canada retaliates against U.S. tariffs imposed by President Trump.
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Bitcoin Drops as Trump Enters Trade War

In a significant move, President Trump has enacted 25% tariffs on imports from Canada and Mexico, causing Bitcoin to sink to the $100,000 level. The new tariffs have sparked fears of a broader trade war, leading to negative reactions in the crypto markets, particularly affecting altcoins even more severely.
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Solana’s dApps Struggle with High Trading Volumes

Amidst a surge in trading volume driven by the TRUMP memecoin, Solana’s decentralized applications (dApps) are experiencing significant challenges in scaling. The launch of these memecoins has led to network congestion, creating hurdles for users and developers within the Solana ecosystem.
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