#MarketPullback Bitcoin Drops to US$115,000 After Trump Officially Implements Global Tariffs

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

The policy targets several American trading partners, including Switzerland and Taiwan, which are subject to significant tariffs of 39% and 20% respectively, according to NBC. This move triggered investor concerns and caused the US dollar to strengthen by 3% — a development that typically puts pressure on risky assets like cryptocurrency.

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

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

#newscrypto #NewsAboutCrypto #news_update #CryptoNew #TrumpTariffs