Bitcoin Drops to US$115,000 After Trump Officially Imposes Global Tariffs

Bitcoin has dropped by 2.02% in the past 24 hours, falling to US$115,000. This decline comes after U.S. President Donald Trump officially implemented new trade tariffs on several countries, which took effect on Friday (August 1).

The policy targets numerous American trade partners, including Switzerland and Taiwan, which were hit with significant tariffs of 39% and 20% respectively, according to NBC. This move sparked investor concern and led to a 3% strengthening of the U.S. dollar — a development that typically puts pressure on risk assets like cryptocurrencies.

Additional pressure came from the traditional finance sector. JPMorgan CEO Jamie Dimon once again expressed skepticism toward Bitcoin, voicing stronger support for stablecoins and blockchain technology instead. His comments contributed to the negative sentiment from institutional players toward Bitcoin.

As a result of these combined factors, Bitcoin has now hit its second-lowest price point in the past week.

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