Can Trump’s 50% EU Tariff Threat Stop Bitcoin’s Rally?
President Donald Trump‘s threat of a 50% tariff on European Union goods, set to take effect June 1, has halted the recent rally in Bitcoin (CRYPTO: BTC) and altcoins, with experts warning of heightened market volatility.
What Happened: The announcement, posted on Truth Social, triggered a 4% dip in Bitcoin’s price to $108,000, alongside turbulence in the S&P 500, as investors react to escalating trade tensions.
Nicolai Sondergaard, a research analyst at Nansen, described the tariff threat as a likely negotiating tactic rather than a policy set to materialize.
“Trump’s announcement seems intended to influence ongoing discussions, possibly signaling that negotiations are not progressing as intended,” Sondergaard told Benzinga.
He noted that Bitcoin’s dip and S&P 500 volatility reflect the sensitivity of risk assets to trade-related headlines, but he expects the disruption to be temporary unless further actions escalate tensions.
“Unless additional comments from Trump are …
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