{"id":24238,"date":"2025-05-23T16:53:22","date_gmt":"2025-05-23T13:53:22","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-dips-below-108000-amid-trumps-tariff-threats-against-the-eu\/"},"modified":"2025-05-23T16:53:22","modified_gmt":"2025-05-23T13:53:22","slug":"bitcoin-dips-below-108000-amid-trumps-tariff-threats-against-the-eu","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-dips-below-108000-amid-trumps-tariff-threats-against-the-eu\/","title":{"rendered":"Bitcoin Dips Below $108,000 Amid Trump&#8217;s Tariff Threats Against the EU"},"content":{"rendered":"<p>The price of the leading cryptocurrency fell by over 3% within an hour following U.S. President Donald Trump&#8217;s threat to impose a 50% tariff on EU products starting June 1.<\/p>\n<p><iframe src=\"https:\/\/truthsocial.com\/@realDonaldTrump\/114556968834547173\/embed\" class=\"truthsocial-embed\" style=\"max-width: 100%; border: 0\" width=\"600\" allowfullscreen=\"allowfullscreen\"><\/iframe><script src=\"https:\/\/truthsocial.com\/embed.js\" async=\"async\"><\/script><\/p>\n<p>Currently, Washington is negotiating with Brussels after the implementation of the so-called<a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-surges-past-81000-amid-trumps-tariff-pause\"> 90-day tariff truce.<\/a><em> <\/em>According to the <a href=\"https:\/\/www.ft.com\/content\/9a90770e-d429-4c90-a1b4-4f75d3d9b97b\">Financial Times<\/a>, the current progress does not meet U.S. expectations.<em>\u00a0<\/em><\/p>\n<p>The head of the White House described the $250 billion trade deficit with the EU (originally $250 million) as &#8220;unacceptable.&#8221;\u00a0<\/p>\n<p>Trump mentioned restrictions, including non-monetary ones, VAT, corporate penalties, exchange rate manipulations, and lawsuits against American companies.<\/p>\n<p>Shortly before, the U.S. president warned Apple that the company&#8217;s products would face a 25% tariff if production continued overseas.<\/p>\n<p><iframe src=\"https:\/\/truthsocial.com\/@realDonaldTrump\/114556874484491575\/embed\" class=\"truthsocial-embed\" style=\"max-width: 100%; border: 0\" width=\"600\" allowfullscreen=\"allowfullscreen\"><\/iframe><script src=\"https:\/\/truthsocial.com\/embed.js\" async=\"async\"><\/script><\/p>\n<p>Trump&#8217;s actions led to a sharp decline in risk appetite in global financial markets. Shares of European car manufacturers plummeted by 3.3-4.5%, dragging down the local stock market and dampening sentiment on Wall Street before opening. The S&#038;P 500 futures <a href=\"https:\/\/www.cnbc.com\/world\/?region=world\">fell by 1.5%<\/a>.<\/p>\n<p>Against this backdrop, gold rose by 2%, and there is demand for sovereign bonds of developed countries. Bitcoin dropped by 3% and at the time of writing is trading at $108,430.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1576.webp\" alt=\"1-1576\" class=\"wp-image-259291\"\/><figcaption class=\"wp-element-caption\">Hourly BTC\/USD chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The rate of decline among the top 10 digital assets by market capitalization ranges from 2.6% to 4%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"645\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-1112-1024x645.png\" alt=\"2-1112\" class=\"wp-image-259292\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/2-1112-1024x645.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/2-1112-300x189.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/2-1112-768x484.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/2-1112.png 1141w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>The liquidation volume over the past 24 hours reached $541.5 million, with nearly $400 million in long positions. The volume of forcibly closed positions in Bitcoin is comparable to Ethereum.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"303\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/3-622-1024x303.png\" alt=\"3-622\" class=\"wp-image-259293\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/3-622-1024x303.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/3-622-300x89.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/3-622-768x228.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/3-622.png 1384w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Data:<a href=\"https:\/\/www.coinglass.com\/LiquidationData\"> Coinglass<\/a>.<\/figcaption><\/figure>\n<p>On May 22, Bitcoin reached a new high approaching <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-nears-112000-amid-institutional-buying-spree\">$112,000<\/a> amid continued significant inflows into ETFs.<\/p>\n<p>JPMorgan <a href=\"https:\/\/forklog.com\/en\/news\/jpmorgan-predicts-bitcoin-to-surpass-gold-by-year-end\">noted<\/a> the high chances for the leading cryptocurrency in the &#8220;competition&#8221; with gold by the end of the year, partly due to corporate purchases.<\/p>\n<p>Additional support continues to come from purchases by public companies. On the same day, Michael Saylor&#8217;s Strategy filed with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> for the issuance of preferred shares worth $2.1 billion. The firm uses the proceeds to finance corporate goals, including acquiring digital gold.<\/p>\n<p>Earlier, Standard Chartered urged buying the leading cryptocurrency and predicted its price would rise <a href=\"https:\/\/forklog.com\/en\/news\/standard-chartered-urges-bitcoin-investment\">to $120,000<\/a> in the second quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of the leading cryptocurrency fell by over 3% within an hour following U.S. President Donald Trump&#8217;s threat to impose a 50% tariff on EU products starting June 1. Currently, Washington is negotiating with Brussels after the implementation of the so-called 90-day tariff truce. According to the Financial Times, the current progress does not [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,991,1224],"class_list":["post-24238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-donald-trump","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"33","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24238"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24237"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}