$BTC $BTC The drop hit as Bitcoin blew through resistance and ended the June 29 week with its highest weekly close ever. The action split risk markets in two. Stocks went down, crypto went up.

As per usual, the trigger came straight out of Washington after President Donald Trump confirmed on Sunday that new tariffs will begin August 1, not July 9 as markets had priced in.

The news sent US stock futures into a tailspin Sunday night. The Dow Jones Industrial Average dropped 146 points, down 0.32%. S&P 500 futures lost 0.39% and Nasdaq 100 futures fell 0.42%. Trump didn’t make the announcement alone.