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Tesla-Wall Street Compacts Weakening, Bitcoin Experiences Surge
Tesla's (TSLA) stock price fell to US$315.35 after the market reacted to President Donald Trump's statement regarding the postponement of the import tariff schedule. This decline also occurred alongside the weakening of the S&P 500 index and gold prices.
While the stock and metal markets fell, Bitcoin (BTC) actually surged strongly, driven by an influx of nearly 50,000 BTC into the spot ETF over the past month. In fact, Bitcoin managed to stay above US$108,500 and recorded its highest weekly close in history above US$109,000, according to CoinGecko.
The catalyst came from the White House when Trump asserted that new tariffs would take effect starting August 1, not July 9 as the market had initially assumed.
“Tariffs will begin to be imposed on August 1, but the President is currently negotiating the rates and terms of the deal,” said Secretary of Commerce Howard Lutnick on Sunday (06/07) local time.
*Disclaimer Alert. Not Financial Advice (NFA). Do Your Own Research (DYOR).*
