Bitcoin succumbs to the liquidation of risk assets and falls 5% in reaction to tariffs
The cryptocurrency dropped to around $81,500 and tokens like Ethereum and XRP also showed losses, while Solana plummeted 10%
Bitcoin (BTC) and other large-cap cryptocurrencies retreated this Thursday (3) after U.S. President Donald Trump announced new trade tariffs on partners, increasing risk aversion in global markets.
The cryptocurrency dropped more than 5%, trading at around $81,500 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 34% tariff, the European Union will be taxed at 20%, and Japan at 24%.
