Crypto Market Collapses After Trump’s EU Tariff Threat

The cryptocurrency market experienced a sharp downturn following President Donald Trump’s announcement of a 50% tariff on goods imported from the European Union, starting next month. This bold trade threat sent shockwaves through global financial markets, especially those focused on risk-on assets like Bitcoin and altcoins. 3% was wiped off the total crypto market cap in the past 24 hours, with Bitcoin and other major altcoins showing red candles. While the cause of this sudden crash is unclear, experts are exploring the potential for increased macroeconomic uncertainty and volatility as a result of this tariff announcement.