Amid the announcement of new tariffs by U.S. President Donald Trump, Bitcoin holds steady around $108,700. However, the tariffs raise concerns in global markets.
Announcement of New Tariffs
Donald Trump stated in a recent post that he plans to impose new trade tariffs targeting at least seven countries. These tariffs, ranging from 25% to 40%, are set to take effect on August 1, 2025. This announcement is likely to induce volatility across financial markets.
Impact on Crypto Market
Recent tariff changes have already affected the crypto market. Last month, Trump imposed tariffs of 25% to 40% on 14 countries, causing the market to drop by 4.5% within 24 hours. Bitcoin fell 1.56%, dropping just below $108,000, while Ethereum declined by 1.89%. Crypto investors are concerned about the potential continuing impact of new tariffs on the market.
Future of Bitcoin
Despite potential challenges, some analysts suggest that the worst-case scenarios are already priced in. For Bitcoin to maintain a bullish trend, it needs to stay above $99,000. After dipping to $107,400, BTC has a chance to push toward the $110,000–$114,000 range in the coming days.
The overall condition of Bitcoin and the crypto market will depend on political decisions and economic changes. Investors remain vigilant, anticipating how the new tariffs will affect global markets.
