"Bitcoin Declines Following Trump's Tariff Remarks... Trade Uncertainty Resurfaces"
Summary
- Following President Trump's proposal of tariffs on the European Union, Bitcoin has shown a short-term decline, according to analysis.
- Dan Crypto Trades reported that the resurfacing trade uncertainty is being reflected in the market.
- The future direction of Bitcoin and its performance relative to stocks are crucial from an investment perspective.
Following U.S. President Trump's proposal of tariffs on the European Union (EU), Bitcoin (BTC) has shown a short-term decline, according to analysis.
On the 23rd, cryptocurrency analyst Dan Crypto Trades stated, "Bitcoin broke through the compression zone due to Trump's remarks today," adding, "The market is reflecting the resurfacing trade uncertainty."
Earlier that day, President Trump proposed imposing a high tariff of 50% on the European Union starting next month. Subsequently, global stock and asset markets have shown mixed trends.
Dan added, "The global market does not seem to welcome this news," and "It is crucial to see where Bitcoin stabilizes today and how it performs relative to stocks amid the resurfaced trade uncertainty."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Market] Bitcoin falls below $71,000…Lowest level since October 2024](https://media.bloomingbit.io/PROD/news/0e5880b9-61dd-49d4-9d2e-c47a3fb33a93.webp?w=250)
