Trump’s Tariff Threats Have Derailed Bitcoin’s Bullish Momentum: Santiment
The post Trump’s Tariff Threats Have Derailed Bitcoin’s Bullish Momentum: Santiment appeared on BitcoinEthereumNews.com. Bitcoin’s record-breaking rally last week collided headfirst with geopolitical turbulence, as U.S. President Donald Trump returned to making tariff threats, this time aimed at the European Union (EU). The move injected volatility into a market fresh off its all-time high (ATH) after BTC came within a couple of hundred bucks of flying past $112,000. It has since wobbled, trading sideways around $109,500 as traders weigh the implications of escalating U.S.-EU trade tensions. Tariff Whiplash In early April, the price of BTC dropped to about $82,000 after Trump announced a raft of tariff measures impacting multiple U.S. trade partners. The president claimed the new taxes were needed to correct deficits between the United States and other countries. At the time, the EU was hit with a 20% tax on exports to the U.S. Days later, Trump was at it again, hiking levies against Chinese imports to 104%. His actions pushed BTC prices even lower, with the cryptocurrency dipping to $74,600 and wrecking crypto trades worth more than $287 million. However, after about 24 hours, the White House announced that more than 75 countries had contacted the U.S. for tariff negotiations, prompting Trump to lower the taxes to 10%, although products from China suffered an increase to 125%. The good news gave Bitcoin a leg up to around $82,000 from around $77,000. As the first week of May closed, news emerged that the U.S. and China were planning high-level trade talks to iron out their differences. The reports stirred BTC into action, helping push it past $97,000 from a low of $94,000. Soon after, it went past $100,000, buoyed by easing geopolitical tensions, exchange-traded fund (ETF) inflows, and increased institutional demand. On May 22, the king cryptocurrency recorded a new ATH, with market watchers expecting it to move on to the next milestone…
The post Trump’s Tariff Threats Have Derailed Bitcoin’s Bullish Momentum: Santiment appeared on BitcoinEthereumNews.com.
Bitcoin’s record-breaking rally last week collided headfirst with geopolitical turbulence, as U.S. President Donald Trump returned to making tariff threats, this time aimed at the European Union (EU). The move injected volatility into a market fresh off its all-time high (ATH) after BTC came within a couple of hundred bucks of flying past $112,000. It has since wobbled, trading sideways around $109,500 as traders weigh the implications of escalating U.S.-EU trade tensions. Tariff Whiplash In early April, the price of BTC dropped to about $82,000 after Trump announced a raft of tariff measures impacting multiple U.S. trade partners. The president claimed the new taxes were needed to correct deficits between the United States and other countries. At the time, the EU was hit with a 20% tax on exports to the U.S. Days later, Trump was at it again, hiking levies against Chinese imports to 104%. His actions pushed BTC prices even lower, with the cryptocurrency dipping to $74,600 and wrecking crypto trades worth more than $287 million. However, after about 24 hours, the White House announced that more than 75 countries had contacted the U.S. for tariff negotiations, prompting Trump to lower the taxes to 10%, although products from China suffered an increase to 125%. The good news gave Bitcoin a leg up to around $82,000 from around $77,000. As the first week of May closed, news emerged that the U.S. and China were planning high-level trade talks to iron out their differences. The reports stirred BTC into action, helping push it past $97,000 from a low of $94,000. Soon after, it went past $100,000, buoyed by easing geopolitical tensions, exchange-traded fund (ETF) inflows, and increased institutional demand. On May 22, the king cryptocurrency recorded a new ATH, with market watchers expecting it to move on to the next milestone…
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