Cryptocurrency Markets Lose More Than $100 Billion Following Trump's Recent EU Tariff Threats (Weekend Overview)

After President Trump suggested a 50% general tariff on the European Union, the value of Bitcoin and other altcoins plummeted, resulting in a loss of over $100 billion within a day. The week started strong for Bitcoin, breaking past its January record high at nearly $110,000, only to face resistance and drop to $106,500.

It made an impressive resurgence, hitting a new high of $112,000, then settled around $111,000.

However, following Trump's tariff recommendation, Bitcoin's value fell below $107,500 and then dropped further to below $107,000. It has since recovered slightly, sitting above $108,000.

Altcoins followed suit, with significant losses from DOGE, ADA, SUI, SHIB, LINK, and AVAX among others. The total crypto market now stands at $3.530 trillion