Market Watch

Bitcoin Tumbles Under $108K After Trump Calls For 50% EU Tariff

The price of Bitcoin (BTC) fell below $108,000 early Friday after President Donald Trump called for steep tariffs on EU imports and threatened Apple with similar measures. The digital asset briefly touched $107,300 on Binance, pulling back from session highs above $111,000 as traders responded to fresh geopolitical tensions.
The US president on Friday proposed a 50% tariff on all EU imports starting June 1, 2025, in a post on Truth Social. He cited trade imbalances and regulatory frictions as rationale for the move, declaring current EU-US trade dynamics “totally unacceptable.” Trump also issued a direct warning to Apple this morning, stating that iPhones sold in America must be built domestically or face a 25% tariff. The ultimatum to Apple CEO Tim Cook appeared aimed at the tech giant’s extensive overseas manufacturing footprint.
Bitcoin’s pullback came less than 24 hours after it hit a new all-time high of $111,980, surpassing the previous record of $109,588 set in January. The digital asset was trading at around $108,200 at press time, down 2.5% in the past 24 hours. Demand for Bitcoin has been driven by its increasing correlation with gold, perceived safe-haven assets, and heightened concerns about Japan’s and the US’s fiscal health.
Furthermore, increased corporate and institutional support, including acquisitions by entities like Strategy and MARA Holdings, alongside robust investments in US-listed spot Bitcoin ETFs, further bolsters Bitcoin’s market position. Bitcoin’s recent decline has reflected cautious market sentiment. The crypto market’s response suggests that digital assets remain sensitive to macroeconomic and political developments.
Terron Gold

Share
Published by
Terron Gold
Tags: AppleBitcoinEUiphonesTariffs
1 year ago

Recent Posts

Elon Musk’s xAI Sues Minnesota Over First U.S. AI Nudification Law

Elon Musk's artificial intelligence company xAI has filed a federal lawsuit challenging Minnesota's landmark law banning AI-powered "nudification" technology, arguing…

6 days ago

Bitcoin Nears $65,000 as Treasury Yields Outperform Carry Trade in Rare Market Signal

Bitcoin climbed toward $65,000 as an unusual shift in traditional financial markets created one of the rarest conditions…

7 days ago

Hyperscale Data Sells 100 Bitcoin to Fund Michigan AI Campus as GPUS Stock Surges

Hyperscale Data has sold 100 Bitcoin to accelerate development of its planned artificial intelligence campus in Michigan, sending shares…

7 days ago

PIPEDOG Explodes 140x on Robinhood Chain as Memecoin Frenzy Intensifies

A newly launched memecoin called PIPEDOG ($PIPEDOG) became the latest breakout token on Robinhood Chain, surging more than 140x within…

1 week ago

BNY Brings $8.6 Trillion Fund Business On-Chain in Major Wall Street Blockchain Expansion

BNY, the world's largest custodian bank, is bringing one of its core financial businesses onto…

1 week ago

Senators Strengthen Crypto Ethics Rules in CLARITY Act After Trump Negotiations

A bipartisan group of U.S. senators has reportedly reached a new compromise on the ethics provisions of…

1 week ago