Bitcoin and ether experienced significant declines on Monday as escalating trade tensions led to market uncertainty. Bitcoin hit a three-week low of $91,441.89, while ether dropped 24% to levels last seen in early September.

Cryptocurrency prices slid as the spectre of a global trade war put investors on edge and pushed them out of risky assets.

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