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The Cryptonomics™ > Blockchain > Bitcoin Slips 3% On Trump Tariffs, $705M In Longs Wiped Out
Blockchain

Bitcoin Slips 3% On Trump Tariffs, $705M In Longs Wiped Out

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Last updated: August 1, 2025 9:42 pm
admin Published August 1, 2025
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Bitcoin Slips 3% On Trump Tariffs, 5M In Longs Wiped Out


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Trump Imposes Tariffs On A number of Buying and selling CompanionsAssociated Articles:
TRUMP tariffs

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Bitcoin slid greater than 3% to $114,520 early Friday, dragging the broader crypto market with it after US President Donald Trump introduced sweeping new commerce tariffs on a number of nations.

The sharp drop triggered over $705 million in lengthy place liquidations up to now 24 hours, in accordance to CoinGlass. Ethereum merchants bore the brunt of the ache, with $226.37 million in lengthy liquidations, surpassing the $177.72 million shaken out of Bitcoin.

The broader crypto market cap tumbled over 4% to $3.72 trillion, based on CoinMarketCap. 

Investor sentiment additionally took a knock, with the Crypto Concern and Greed Index falling 7 factors to a rating of 65/100. 

BitcoinBitcoin

Trump Imposes Tariffs On A number of Buying and selling Companions

The sell-off adopted Trump’s signing of an Govt Order that raised tariffs on nations that didn’t strike commerce agreements with the US by the Aug. 1 deadline.

Targets embody Canada, Taiwan, Thailand, and Switzerland, whereas extra compliant companions just like the EU, UK, and South Korea will see adjusted phrases carried out later.

Trump tariffsTrump tariffs

Along with mountaineering tariffs on Canada from 25% to 35%, charges for international locations that didn’t attain an settlement with the US earlier than the deadline had been additionally set.

Trump hit South Africa and India with 25% tariff charges and Taiwan with 20%, whereas a 39% tariff put Switzerland among the many most closely focused international locations.

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