United States President Donald Trump's firm stance on tariffs dramatically shook both Bitcoin and Ethereum late Sunday. Market uncertainty was already there following Trump's decision to sign an order on Saturday implementing tariffs on Canada, Mexico and China, but it spiraled even further after he told reporters that he would "definitely" place new tariffs on the European Union.

While he didn't specify a timeline, Trump stressed that the tariffs would come "pretty soon." He also warned that tariffs against Canada and Mexico could get "much worse," should the two countries fail to address the trade deficit with the US and stop fentanyl from entering the country.

At 9:06 pm ET, Bitcoin was down 4.73%, going for $92,935. At the same time, Ethereum plummeted 13.52%, selling for $2,455.