Can Bitcoin Price Lose $110k Support As Trump Proposes 50% Tariff on EU?
The post Can Bitcoin Price Lose $110k Support As Trump Proposes 50% Tariff on EU? appeared on BitcoinEthereumNews.com. Early trading on Friday saw Bitcoin price retreat, dropping below the $110,000 level. Stocks in the market fell after President Donald Trump suggested new tariffs. From June 1, 2025, all goods from the European Union will be subject to a 50% Tariff. Gains in the crypto sector were quickly wiped out when investors started doubting the market. Bitcoin price had reached an all-time high of $111,980 only hours prior, driven by institutional demand and perceptions of digital assets as alternative stores of value. Still, the trade measures slowed things down, reducing Bitcoin price to $107,300 at its lowest. Tariff Proposal Sparks Bitcoin Price Volatility Donald Trump’s announcement on Truth Social introduced new uncertainty to global markets. The former president cited prolonged trade disagreements with the EU as justification for the steep import duty. He also threatened Apple with a separate 25% tariff on iPhones unless the company shifts production to the United States. These statements came during early U.S. trading hours, catching investors off guard. U.S. stock futures fell immediately, while European indices recorded a 2% decline. Cryptocurrency investors followed the same trend. Within 24 hours, the overall crypto market cap dropped by 2.8% to $3.46 trillion. Bitcoin price sensitivity to geopolitical and macroeconomic shifts became evident as traders repositioned in anticipation of broader instability. Bitcoin Price Breaks Below Key Support Level Bitcoin price briefly dropped below $110,000, raising concerns among market observers. In the past, $110,000 had acted as a barrier, formed when a lot of institutional inflows pushed BTC price up. The shift tells that the asset responds to changes in political and economic conditions. At press time, Bitcoin price was worth $108,883.38, which was 1.83% lower than it was the day before. Other cryptocurrencies experienced drops during this time as well. Ethereum, Solana, and other top altcoins…
The post Can Bitcoin Price Lose $110k Support As Trump Proposes 50% Tariff on EU? appeared on BitcoinEthereumNews.com.
Early trading on Friday saw Bitcoin price retreat, dropping below the $110,000 level. Stocks in the market fell after President Donald Trump suggested new tariffs. From June 1, 2025, all goods from the European Union will be subject to a 50% Tariff. Gains in the crypto sector were quickly wiped out when investors started doubting the market. Bitcoin price had reached an all-time high of $111,980 only hours prior, driven by institutional demand and perceptions of digital assets as alternative stores of value. Still, the trade measures slowed things down, reducing Bitcoin price to $107,300 at its lowest. Tariff Proposal Sparks Bitcoin Price Volatility Donald Trump’s announcement on Truth Social introduced new uncertainty to global markets. The former president cited prolonged trade disagreements with the EU as justification for the steep import duty. He also threatened Apple with a separate 25% tariff on iPhones unless the company shifts production to the United States. These statements came during early U.S. trading hours, catching investors off guard. U.S. stock futures fell immediately, while European indices recorded a 2% decline. Cryptocurrency investors followed the same trend. Within 24 hours, the overall crypto market cap dropped by 2.8% to $3.46 trillion. Bitcoin price sensitivity to geopolitical and macroeconomic shifts became evident as traders repositioned in anticipation of broader instability. Bitcoin Price Breaks Below Key Support Level Bitcoin price briefly dropped below $110,000, raising concerns among market observers. In the past, $110,000 had acted as a barrier, formed when a lot of institutional inflows pushed BTC price up. The shift tells that the asset responds to changes in political and economic conditions. At press time, Bitcoin price was worth $108,883.38, which was 1.83% lower than it was the day before. Other cryptocurrencies experienced drops during this time as well. Ethereum, Solana, and other top altcoins…
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