Share this article
BTC
$82,962.85
+
0.49%ETH
$1,792.59
+
0.20%USDT
$0.9996
+
0.01%XRP
$2.1428
+
1.58%BNB
$594.03
+
0.40%SOL
$118.19
+
0.66%USDC
$0.9999
+
0.02%DOGE
$0.1684
+
0.27%ADA
$0.6542
-
0.07%TRX
$0.2383
-
1.07%LINK
$12.73
+
0.95%LEO
$8.9727
-
4.39%TON
$3.2483
-
4.34%XLM
$0.2548
-
1.46%AVAX
$18.00
-
0.42%SHIB
$0.0₄1220
-
0.11%SUI
$2.2072
-
0.48%HBAR
$0.1603
-
2.15%LTC
$82.70
-
0.56%OM
$6.2350
-
1.43%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin, Broader Market Dip After Trump Plans to Impose 25% Tariffs on EU
Bitcoin and S&P 500 both fell to their session low after Trump talked about tariffs at his first cabinet meeting on Wednesday.
What to know:
Bitcoin's (BTC) price and the broader equity market fell to their session lows on Wednesday after U.S. President Donald Trump said he plans to impose a 25% tariff on the European Union during his first cabinet meeting.
The price of bitcoin fell below $84,000, dropping more than 5% in the last 24 hours, while the S&P 500 fell to its session low. The broader digital assets market index CoinDesk20 also fell 2.3% on Wednesday.
“We have made a decision and we’ll be announcing it very soon. It’ll be 25 per cent,” the Financial Times reported Trump said.
After the recent market sell-off, there were calls that the drop might have been the bottom. Trump's EU tariff plans seem to have dampened market optimism.
Read more: Bitcoin's Tuesday Bloodbath Was the Bottom, Analyst Says
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's managing editor for Breaking News. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ALGO, ADA, SOL, OP and some other altcoins which are below CoinDesk's disclosure threshold of $1,000.
