What Caused the Sudden Drop in Bitcoin?$BTC Will the Trump Effect Continue in the Market?

US President Donald Trump continues to influence the cryptocurrency market with his statements. At this point, Trump, who recently made a customs tax statement towards the EU, caused a decline in Bitcoin (BTC)$BTC and altcoins.

Trump's proposal of a 50 percent customs duty on the European Union via his Truth Social account caused BTC to fall by more than 3 percent in a short time.

Stating that the EU's primary goal is to take advantage of the United States in trade, Trump accused the EU of using VAT, penalties and currency manipulation to harm American companies.

Saying that talks have stalled, Trump proposed a 50% tariff on all EU imports starting June 1, 2025.

However, he added that goods produced in the US would be exempt from the tax.

“It was very difficult to deal with the European Union, whose primary purpose was to exploit the US's advantage in TRADE.

….Our talks with them are going nowhere! Therefore, I propose a 50% direct Customs Duty on the European Union starting June 1, 2025. No Customs Duty if the product is manufactured or built in the USA.”

US President Trump also gave Apple CEO Tim Cook a hard time about the tax. He shared that he clearly told the Apple CEO that all iPhones sold in the US must be manufactured in the US, not in India or other regions.

If production is not done properly, Apple will have to pay at least 25% customs duty on each iPhone.

Bitcoin, which broke a record yesterday, rose above $111,000 and reached a new ATH, fell to $107,400 after Trump's statements.

BTC then recovered somewhat and rose to $108,800.

Trump had previously caused a sudden and sharp decline in Bitcoin with his customs duty announcements against different countries such as China.

News from both the US-China and US-Russia will determine the direction of Bitcoin and the market in the short term. Experts remind that risky and leveraged transactions should be avoided during these periods.