Bitcoin Falls Below $108,000 Level Due to Trump's Tariff Remarks

Doohyun Hwang

Summary

Bitcoin fell below the $108,000 level after President Donald Trump's remarks on high tariffs on the EU, intensifying the downward trend.
President Trump proposed imposing a 50% tariff from June 1, citing no progress in negotiations with the EU.
Bitcoin is trading at around $107,500, down about 3.3% on the Binance Tether market.

The decline in Bitcoin (BTC) has intensified, breaking below the $108,000 level. The background to the reversal of the upward trend, which hit an all-time high the previous day, is attributed to U.S. President Donald Trump's remarks on high tariffs on the European Union (EU).

On the 23rd (local time), Bitcoin is trading at around $107,500, down about 3.3% from the previous day, on the Binance Tether (USDT) market. Bitcoin had reached an all-time high of $111,980 the previous day.

On this day, President Trump announced on his social media, Truth Social, that "there is no progress in negotiations with the EU" and proposed "imposing a 50% tariff from June 1." He further stated in a meeting with reporters at the White House that "the EU tariff has already been set at 50% and we plan to stick to it," adding, "However, if they establish factories in the U.S., we can discuss a deferral."

BTC