Donald Trump announced tariffs on imported products, causing the Bitcoin price to drop below $93,000, as BTC investors also gained clues from options expiration and PCE data.

After multiple rejections from reaching $100,000, the Bitcoin price rose again by 4%, hitting a low of $92,785 during the day. This is the largest single-day drop for BTC since Donald Trump won the U.S. election. Factors contributing to today's decline include the monthly expiration of Bitcoin options, concerns over Trump's tariffs, some profit-taking, and ETF outflows.

Why did the Bitcoin price drop below $93,000?

Trump raised tariffs on imports from China, Mexico, and Canada!

Trump's remarks on Monday dampened market optimism following the weekend appointment of Scott P. McLarty as U.S. Treasury Secretary. On Tuesday's Asian early session, both Bitcoin and altcoins also experienced a pullback.

Most open contracts are concentrated on call options with a strike price of $82,000 and put options with a strike price of $70,000. According to the maximum pain theory, prices may tend toward the range of $70,000-$82,000.