Bitcoin Dumps 2.8% to Below $110K After Trump’s 50% India Tariff Over Russian Oil
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- President Trump has imposed a steep 50% tariff on Indian imports as punishment for buying Russian oil
- The move caused India’s Rupee to plunge, strengthening the U.S. dollar and creating a crypto “liquidity crunch”
- Bitcoin fell 2.82% to below $110,000 as investors reassess the new geopolitical risk to the market
Bitcoin’s price falls below $110,000 as a new geopolitical event rattles the market and thereby economic stability. President Donald Trump has imposed a steep 50% tariff on most Indian imports, sparking a flight to the safety of the U.S. dollar that triggered the immediate volatility across the cryptocurrency market.
Why Did Trump Impose the India Tariffs?
The aggressive new India Tariffs are a direct punishment for the country’s continued purchase of discounted Russian oil. The Trump administration claims these purchases indirectly help fund the war in Ukraine.
With the latest move, Trump makes good on the thre…
The post Bitcoin Dumps 2.8% to Below $110K After Trump’s 50% India Tariff Over Russian Oil appeared first on Coin Edition.
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