Bitcoin
BTC
$ 96 611
24h volatility:
2.1%
COURTIC CAPESSION:
$ 1.92 T
Flight. 24 hours:
$ 29.09 B
Reverse the gains on May 23 after President Donald Trump announced new trade measures aimed at the European Union.
This decision has sent shock waves to the world markets, bitcoin and other cryptocurrencies reacting negatively to restarted tensions.
The Trump EU price plan sends the market in panic
The digital asset markets woke up with a new wave of volatility after President Trump declared a 50% tariff on all imported goods from the European Union.
In an article on Truth Social, the president said that discussions with the EU had blocked and that the United States had no choice but to take stronger measures. The new prices should start on June 1, 2025. The latter price update occurs when the United States and China have actively negotiated favorable commercial conditions.
Shortly after, President Trump turned his attention to Apple Inc. (NASDAQ: AAPPL), warning the 25% tariff of iPhones that are not manufactured in the United States.
He said he had already informed Apple CEO Tim Cook, of his expectations concerning domestic production. According to the president, if Apple continues to bring together iphones in countries like India, the 25% price will be applied.
The announcements rocked the financial markets. US stock index has dropped and Apple’s shares dropped 3.6% at the start of negotiations. Bitcoin, who had crossed the bar of $ 111,000 a few hours earlier, fell to $ 108,600 after the news.
The price of Bitcoin bleeds while fears of trade war
It should be mentioned that the impact was immediate on the cryptography market. The total market value dropped to 3.42 dollars, reflecting a drop of 2.58%. Bitcoin, the market leader, saw a slight withdrawal of value after reaching a record earlier in the week.
Bitcoin was negotiated at $ 109,494.41, down 1.86% at the time of writing. The sudden drop in the price of bitcoin was closely linked to the fears renewed on disruption of international trade.
Other major cryptocurrencies have followed the tendency of sale. Ethereum
Ethn
$ 1,845
24h volatility:
2.6%
COURTIC CAPESSION:
$ 222.72 B
Flight. 24 hours:
$ 14.22 B
Lut fell 2.65% to negotiate $ 2,581.36 and XRP
Xrp
$ 2.22
24h volatility:
0.8%
COURTIC CAPESSION:
$ 129.99 B
Flight. 24 hours:
$ 2.17 B
fell 2.27% to $ 2.36. The overall atmosphere became cautious as investors digested the president’s comments and considered the possibility of new measures related to trade.
The merchants expected a quiet session before the holiday weekend, but the tone changed quickly when President Trump published his message. With the tariff threat now in the center, traders are preparing for a volatile period. Uncertainty about trade policy and its broader effects on technological and cryptographic markets remain high.
As the date of implementation of June 1, attention will probably remain in Washington and any other declaration of the president. For the moment, the fear of an prolonged trade war has again threw a shadow on the world markets, and Bitcoin feels the pressure.
It should be noted that despite current tariff concerns, Texas goes ahead with legislation to create a bitcoin reserve, becoming the second state to do so.
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Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but should not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.
Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
