#TrumpTariffs
The crypto market is experiencing massive volatility today as Bitcoin plunged from nearly $112K to around $109K level. Over $170 million in positions have been liquidated in the past hour as markets react to President Trump's shocking new tariff announcement.
Trump just declared a "straight 50% Tariff on the European Union" set to begin June 1st, sending global markets into turmoil. The announcement came after Trump complained that trade negotiations with the EU were "going nowhere" and cited a $250 billion annual trade deficit. 💥
This sudden policy shift has triggered a risk-off sentiment across financial markets, with Bitcoin unable to escape the fallout. After reaching an all-time high of nearly $112K yesterday, $BTC is currently fighting to hold support at the $104K level.
The volatility we're witnessing now will likely continue as markets digest the implications of these aggressive tariffs. When economic uncertainty rises, Bitcoin sometimes acts as both a risk asset (selling off initially) and a potential safe haven (rallying later as fiat currencies face pressure).
Really was continue and it's gonna while if he break again. Be active we enter in short position 🎯
Target 🎯 $BTC - 104k
This massive liquidation event shows smart money positioning for further downside. Traders who haven't adjusted their highly-leveraged long positions are getting wiped out in real-time.
Stay cautious - we could see additional selling pressure if global markets continue deteriorating in response to escalating trade tensions.