Bitcoin price drops as Trump proposes 50% EU tariff.
The price of BTC immediately fell from $111,000 to $108,000.
Will Trump’s renewed tariff war cause another crypto market crash?
Bitcoin just celebrated a double ATH price setting in a consecutive two days in the $111,000 price level. The price of the pioneer cryptocurrency was expected to move towards higher ATH prices, instead, Bitcoin price drops as Trump proposes 50% EU tariff. Is another tariff war upon us? If so, will Bitcoin fall into another price crash event, or are the bulls resilient enough to push BTC to new ATH prices?
Bitcoin Price Drops as Trump Proposes 50% EU Tariff
The crypto community is stumped once again. What was looking like a great week that ushered in not one, but two new ATH prices for Bitcoin, both in the $111,000 price range has now shifted into what could be a disappointed end to the week. In detail, soon after BTC set its latest ATH price, the asset began to tank. Specifically, BTC price began to drop dramatically as Trump proposed a 50% EU tariff.
The start of 2025 saw a similar move. Looking back, the price of BTC set a new ATH at $109,000 in Q1 of 2025, President Trump announced a series of tariffs on nearly every country in the world, including an island populated by only penguins. This led to a significant price fall in both the US stock market and the crypto market. Trump eventually paused the tariffs, except on the China tariff.
This led to an all out tariff war. In particular, China went on to draw alliances with its neighboring countries so it could thrive without the US, like it had done for so many years before the hegemony even came to be. Meanwhile, Trump prolonged the tariff game leading to China and the USA placing tariffs on one another. Recently, both sides announced a reduced tariff upon one another, leading to the tariff war going cold.
Trump’s Tariff War Renewed?
Instead, it looks like Trump has simply found a new target, the EU. The European Union has engaged in steady crypto adoption in the past few months, though it still has a lot to catch up on to match the USA’s crypto adoption status. Now, with Trump having proposed 50% tariff, the announcement may lead to some unrest once again in all financial, economic, and political spheres.
In detail, Trump recommends 50% tariff on the European Union (EU), starting June 1. Instantly, the financial spaces are taking a hit, starting with stocks in both markets as well as the price of Bitcoin (BTC) falling drastically from $111,000 to $108,000. As the price of BTC continues to decline, many are hoping that Trump’s latest move may be called off like his previous tariffs have before and lead to the financial markets balancing out again.
