Internet reported that cryptocurrencies plummeted after Trump announced additional tariffs on Canada, Mexico and China. Bitcoin fell below the key $100,000 mark, hitting a three-week low of around $91,251.11 on Monday. Ethereum fell about 25% at one point, to its lowest level since early September last year. The specter of a global trade war has made investors nervous, causing them to flee risky assets. While many see Bitcoin as a long-term hedge against inflation and uncertainty, in the short term, it is more like a risky asset that could react negatively to any uncertainty surrounding the trade war. On the other hand, analysts pointed out that the explosion of DeepSeek, a low-cost AI model for China's artificial intelligence (AI) startups, has also hit cryptocurrencies, because it has broken the global AI industry's long-standing dependence on "computing power" path and shocked the U.S. AI industry, stimulating investors to sell stocks and cryptocurrency positions of U.S. AI giants. Investors view $90,000 as a key support level for Bitcoin, and some warn that if Bitcoin falls significantly below this support level, Bitcoin could pull back further to $80,000.