Trump’s Tariff Threat Triggers Market Volatility: Bitcoin Suffers Major Drop

Global financial markets experienced significant turbulence following former U.S. President Donald Trump’s threat to impose a 50% tariff on the European Union (EU). This action triggered a 4.5% decline in Bitcoin’s price within 24 hours, dropping below $110,000. Analysts attribute this sharp decline to immediate pressure on investors, particularly during the New York session, accelerating the downward movement of cryptocurrencies. Trump’s trade policy statements reignited concerns about trade wars, adding to the already volatile market environment.