Bitcoin's price dropped sharply after Donald Trump announced a 30% tariff on imports from the EU and Mexico, effective August 1.
The move follows recent similar tariffs on South Korea and Japan, raising fears of a broader trade war. $BTC , which had recently hit an all-time high of $118,800, fell below $118,000 after the news.
Market sentiment has turned cautious, with concerns that escalating trade tensions could slow #Bitcoin ’s bullish momentum.
