Bitcoin Plummets as Trump Tariff Threats Trigger Market Drop

Bitcoin experienced a significant downturn on Friday following President Trump’s renewed trade tensions with the EU, leading to sharp price drops and market volatility. The cryptocurrency briefly fell as much as 4% to $107,367 before retracing some losses. The decline followed Trump’s announcement on Truth Social regarding a plan for sweeping new tariffs starting next month. These threats from President Trump, along with the EU’s ongoing trade talks with America, have rattled risk assets across the market. 40x leveraged trades were liquidated in a swift fashion, as traders reacted to these developments.