The cryptocurrency market is experiencing a significant crash amid new threats from U.S. President Donald Trump. He announced the possibility of imposing a 50% tariff on European goods if negotiations with the EU do not yield results.
This is reported by Finway
On May 23, 2025, the price of Bitcoin fell to $107,316, a consequence of Trump’s statement. At the time of writing, the price has partially recovered, but the depth of the drop on the daily chart is 2.7%.
“It is recommended to impose direct tariffs on European goods at a rate of 50% starting June 1, 2025.”
The decline in Bitcoin’s price was accompanied by a drop in other crypto assets, particularly altcoins. Stocks and indices were also significantly affected: for example, futures on the E-mini Dow Jones Industrial Average Index fell by over 1%.
The volume of liquidations for futures contracts exceeded $544 million, particularly concerning long positions. Such market drops are not isolated incidents: at the beginning of April 2025, the cryptocurrency market also suffered significant losses due to tariffs imposed by the Trump administration.
The reasons for the introduction of new tariffs and their potential consequences for the global economy and the crypto market will be examined in detail in a separate article.