Trump’s EU Tariffs: Bitcoin Market Instability Amidst Trade Tensions

President Trump’s new tariffs on European imports have triggered significant volatility in the cryptocurrency market, impacting Bitcoin’s price and the overall crypto market capitalization. Bitcoin prices dropped over $2,000 following the announcement, while a total of $130 billion was wiped from the crypto market. The 50% tariff, set to take effect June 1, 2025, is part of President Trump’s trade strategy aimed at reducing European imports. Trade tensions are escalating as negotiations for tariff reductions have stalled, and analysts predict a continued wave of volatility.