Bitcoin plummets to $94,000 as US tariff war tensions rise

The price of Bitcoin (BTC) plummeted to $94,000 at one point following US President Donald Trump's tariff teaser. As tensions rise over the trade war, Bitcoin could drop to $90,000.
As of 10:15 a.m. on the 10th, the price of Bitcoin in South Korea on the BitSom index was down 0.09% from the previous day to 147 million won (about 15
At the same time, the overseas Bitcoin price on CoinMarketCap was down 0.33% from the previous day to $96,371 (approximately ¥14.65 million).
Bitcoin, which had been trading sideways around the $96,000 mark over the weekend, fell to $94,000 in the morning of the same day. It then recovered the losses and was back in the $96,000 range.
The sudden drop in Bitcoin prices is said to be due to the news of President Trump's tariffs. President Trump announced that he would impose tariffs on all Bitcoin imported into the United States from the 10th (local time).
The U.S. said it would impose a 25% tariff on all steel and aluminum products. The economic uncertainty caused by the tariff war appears to have dampened investment sentiment toward Bitcoin, a risky asset.
"Bitcoin must close the week above the $93,000 mark to avoid a larger drop," said Ryan Lee, a senior analyst at Bitget Research.
"If Bitcoin falls below $93,000, approximately $1.3 billion in funds could be liquidated on virtual asset exchanges," he said.
Cointelegraph reported that "if tensions over the trade war continue, Bitcoin prices could fall below $90,000 in the short term."
The Bitcoin spot ETF saw a net inflow. On the 7th (local time), a total of $171.3 million (approximately 26 billion yen) flowed into the Bitcoin spot ETF.