Bitcoin Sinks Below $109K After Trump Pushes 50% EU Tariff
- Trump’s 50% tariff proposal caused Bitcoin to drop from $109K to $107,367 within minutes before rebounding to $109,348.
- The BTC 4H RSI dropped to 48.63, signaling weakening momentum and rising bearish pressure.
- Markets now await the EU’s response as the June 1 tariff deadline approaches, raising fears of broader economic fallout.
On May 23, 2025, U.S. President Donald Trump posted on X, demanding a 50% tariff on European Union goods. He claimed EU trade policies had unfairly harmed U.S. companies. Trump cited corporate penalties, monetary manipulation, and lawsuits as key reasons. He added that talks were “going nowhere.”
Trump proposed the tariff would take effect June 1, 2025. He said goods manufactured in the U.S. would be exempt. The tweet caused instant reactions across financial markets, including cryptocurrency.
Bitcoin Drops After Policy Warning
Minutes after Trump’s tweet, Bitcoin (BTCUSD) dropped sharply to $107,367 on Bitstamp. However, it quickly rebounded, climbing to $109,348 at the time of writing. The 4-hour chart shows a brief red candle followed by a strong recovery. This move came with increased trading volume, now at 470 BT…
The post Bitcoin Sinks Below $109K After Trump Pushes 50% EU Tariff appeared first on Coin Edition.
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Bitcoin Sinks Below $109K After Trump Pushes 50% EU Tariff
- Trump’s 50% tariff proposal caused Bitcoin to drop from $109K to $107,367 within minutes before rebounding to $109,348.
- The BTC 4H RSI dropped to 48.63, signaling weakening momentum and rising bearish pressure.
- Markets now await the EU’s response as the June 1 tariff deadline approaches, raising fears of broader economic fallout.
On May 23, 2025, U.S. President Donald Trump posted on X, demanding a 50% tariff on European Union goods. He claimed EU trade policies had unfairly harmed U.S. companies. Trump cited corporate penalties, monetary manipulation, and lawsuits as key reasons. He added that talks were “going nowhere.”
Trump proposed the tariff would take effect June 1, 2025. He said goods manufactured in the U.S. would be exempt. The tweet caused instant reactions across financial markets, including cryptocurrency.
Bitcoin Drops After Policy Warning
Minutes after Trump’s tweet, Bitcoin (BTCUSD) dropped sharply to $107,367 on Bitstamp. However, it quickly rebounded, climbing to $109,348 at the time of writing. The 4-hour chart shows a brief red candle followed by a strong recovery. This move came with increased trading volume, now at 470 BT…
The post Bitcoin Sinks Below $109K After Trump Pushes 50% EU Tariff appeared first on Coin Edition.
Read More
Peter Schiff To Bitcoin Fans: Why Do Central Banks Still Prefer Actual Gold?