Back to top
  • 공유 Share
  • 인쇄 Print
  • 글자크기 Font size
URL copied.

Bitcoin Slips as Trump’s Global Tariff Escalation Rattles Markets

Bitcoin Slips as Trump’s Global Tariff Escalation Rattles Markets. Source: Image by Ashley_Jackson from Pixabay

Bitcoin (BTC) edged lower on Monday following a modest weekend rally, as renewed trade tensions under President Trump’s tariff policies weighed on investor sentiment. After reaching $109,700 on Sunday, BTC slipped below $108,000, marking a 0.8% drop in 24 hours. As of Monday afternoon, the cryptocurrency traded around $107,700.

The broader crypto market reflected similar weakness. Ethereum (ETH) fell 0.6%, while altcoins such as Solana (SOL), Dogecoin (DOGE), and Sui (SUI) saw 1%-2% declines. XRP (XRP) stood out with a gain of over 2%.

Market jitters grew as Trump postponed his self-imposed July 9 trade deal deadline to August 1 but simultaneously intensified tariff threats. In official letters sent to Japan and South Korea, Trump announced 25% tariffs on select imports starting August 1. Additional letters posted to Truth Social revealed even harsher levies: 25% for Kazakhstan and Malaysia, 30% for South Africa, and 40% for Myanmar and Laos.

In a Monday post, Trump warned of more tariffs targeting countries aligned with BRICS—a coalition including Brazil, Russia, India, China, and South Africa—further fueling fears of a global trade conflict. White House Press Secretary Karoline Leavitt confirmed more letters or trade deal announcements would be released in the coming days.

Equity markets responded negatively. The Nasdaq and S&P 500 both fell roughly 1%, while the 10-year U.S. Treasury yield climbed toward 4.4%, signaling rising risk aversion.

The escalation in trade tensions appears to be undermining risk assets, including cryptocurrencies, which had been gaining momentum. As uncertainty mounts, investors remain cautious, balancing crypto market movements against macroeconomic and geopolitical developments.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Most Popular

Comment 0

Comment tips

Great article. Requesting a follow-up. Excellent analysis.

0/1000

Comment tips

Great article. Requesting a follow-up. Excellent analysis.
1