Bitcoin falls over 8% amid new tariff concerns

ISTANBUL

The price of Bitcoin fell 8.02% on Wednesday from Monday's levels after US President Donald Trump gave remarks about going forward on postponed tariffs on Mexico and Canada.

Trump said Monday that the tariffs on Canada and Mexico "will go forward" as a month-long pause will end next week.

"We're on time with the tariffs, and it seems like that's moving along very rapidly. We've been mistreated very badly by many countries, not just Canada and Mexico. We've been taken advantage of," he said.

As of 0745GMT, Bitcoin's current price was around $88,570, and its market cap had decreased to $1.75 trillion.

Bitcoin's transaction volume in the last 24-hour period was around $73.6 billion.

In January, the price of Bitcoin saw the highest-ever value of around $109,000 due to Trump's inauguration.

Ethereum prices also decreased by 12.2% to $2,484 over the same period.