Bitcoin Plummets to $106K After Trump Tariff Threat—Will the Crash Continue?

Bitcoin (BTC) crashed 4.5% in 24 hours, crashing below $110,000 after President Trump threatened the EU with 50% tariffs. The sell-off began before Friday’s market open and accelerated during the New York session. This sudden crash in response to Trump’s tariff announcement wiped out $638 million in leveraged positions, according to CoinGlass data. During Friday’s briefing, Trump said that he is “not going to make a deal with the EU.” However, if the European Union builds factories in the United States, Trump said he might “consider delaying duties.” This move by the United States president has sparked concerns of a potential trade war revival.  CoinGape data shows BTC trades at $107,739 at press time, with an attempt to recover recent losses in the early Asian session bounce. Here’s what traders should watch next. Key Bitcoin Price Levels to Watch The Time Price Opportunity Chart for Bitcoin shows Friday’s crash knocked… Read More at Coingape.com

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2025-05-24 10:12