Ether and top altcoins saw double-digit losses within an hour following U.S. President Donald Trump’s initial tariffs against imports from China, Canada, and Mexico. Ethereum fell 16% before recovering slightly, but it's still down 38% from its 2024 peak. Altcoins such as Avalanche, XRP, and Dogecoin declined over 20% in 24 hours. Bitcoin dropped nearly 6% loss, as traders sought refuge in the more stable asset.