Key Takeaways
- Trump’s tariff push on the EU and difficult discuss on Apple out of the blue despatched Bitcoin beneath $108,000 in early Friday buying and selling.
- Apple should construct iPhones within the US or face a 25% tariff, Trump warned.
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The value of Bitcoin (BTC) fell beneath $108,000 early Friday after President Donald Trump known as for steep tariffs on EU imports and threatened Apple with related measures. The digital asset briefly touched $107,300 on Binance, pulling again from session highs above $111,000 as merchants responded to contemporary geopolitical tensions.
The US president on Friday proposed a 50% tariff on all EU imports beginning June 1, 2025, in a post on Fact Social. He cited commerce imbalances and regulatory frictions as rationale for the transfer, declaring present EU-US commerce dynamics “completely unacceptable.”
Trump additionally issued a direct warning to Apple this morning, stating that iPhones offered in America have to be constructed domestically or face a 25% tariff. The ultimatum to Apple CEO Tim Cook dinner appeared aimed on the tech large’s intensive abroad manufacturing footprint.
Bitcoin’s pullback got here lower than 24 hours after it hit a brand new all-time excessive of $111,980, surpassing the previous record of $109,588 set in January. The digital asset was buying and selling at round $108,200 at press time, down 2.5% prior to now 24 hours.
Demand for Bitcoin has been pushed by its growing correlation with gold, perceived safe-haven belongings, and heightened considerations about Japan’s and the US’s fiscal well being.
Moreover, elevated company and institutional help, together with acquisitions by entities like Technique and MARA Holdings, alongside strong investments in US-listed spot Bitcoin ETFs, additional bolsters Bitcoin’s market place.
Bitcoin’s latest decline has mirrored cautious market sentiment. The crypto market’s response means that digital belongings stay delicate to macroeconomic and political developments.
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