Bitcoin succumbs to the liquidation of risk assets and falls 5% in reaction to tariff increase
The cryptocurrency fell to around US$69,305,428,548,1,500 and tokens like Ethereum and XRP also showed losses, while Solana plummeted 10%
Bitcoin (BTC) and other large-cap cryptocurrencies retreated on Thursday (3) after the President of the United States, Donald Trump, announced new trade tariffs on partners, intensifying risk aversion in global markets.
The cryptocurrency fell more than 5%, trading at around US$69,305,428,548,1,500 around 11:50 AM. Tokens like Ethereum (ETH) and XRP also showed losses, while Solana (SOL) plummeted 10%.
Trump revealed that he will impose a minimum tariff of 10% on all exports destined for the U.S., in addition to imposing tariffs on about 60 countries with the largest trade imbalances. China will face a tariff of 34%, the European Union will be taxed at 20%, and Japan at 24%.
