Trump's renewed trade war fears sent Bitcoin tumbling below $109K.
Upon the re-escalation of trade tensions by President Trump, who threatened a 50% tariff on all European Union imports starting June 1st and a 25% tariff on Apple iPhones not manufactured in the U.S., various "risk assets," including Bitcoin, experienced a sharp decline. Bitcoin, which had been trading above $111,000, quickly dropped by approximately 2.5% following this news.