Bitcoin slides toward $90,000 after Trump orders tariffs.

Cryptocurrencies tumbled on Sunday in a risk-off move after President Donald Trump hit Canada, Mexico and China with long-threatened import tariffs.

The price of bitcoin was last lower by 7% at $93,768.66, according to Coin Metrics. The CoinDesk 20 index, which measures the largest 20 digital assets by market cap, dropped 19%. Ether slumped 20% to its lowest level since November.

The slide began Saturday night after Trump signed an order imposing 25% tariffs on imports from Mexico and Canada, as well as a 10% duty on China, which will take effect Tuesday. The U.S. does about $1.6 trillion in business with the three countries.

Investors are watching $90,000 as the key support level in bitcoin, and some have warned of an even deeper pullback toward $80,000 should the cryptocurrency meaningfully break below its support.

Source: CNBC