Donald Trump to Hit 7 Nations With Tariffs on Aug 1st, Will Crypto Market Crash?
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Bitcoin is holding steady around $108,700, showing resilience while the global markets react to Trump’s Tariffs. Bitcoin remains mostly unfazed and shows growing confidence among investors. The institutional demand also remains strong with steady ETF inflows.
New Tariffs IncomingPresident Trump shared in a Tuesday evening post that he is all set to announce new trade tariffs targeting at least 7 countries, with more to be followed later. This would spark sudden volatility across global stock markets and crypto. The letters will announce new tariffs of 25% to 40%, set to take effect on August 1, 2025.
Will Crypto Market Drop Again?
He has warned earlier that if 14 countries don’t strike trade deals by early next month, then tariffs will jump back to the higher April levels.
Recently, he slapped tariffs of 25% to 40% on 14 countries, and it quickly impacted the crypto market. Within 24 hours, the total market had dropped 4.5% and all the major coins were trading in red. Bitcoin dipped 1.56% to just under $108,000, while Ethereum fell 1.89% to $2,535. Dogecoin saw the biggest drop, sliding 4.78%.
