Bitcoin plunged to a three-week low near $114,000 following heightened market volatility triggered by President Trump’s tariff executive order, resulting in substantial liquidations across the cryptocurrency market.
The flagship cryptocurrency fell 2.6% to $114,250, breaking below its established trading range amid intensified uncertainty. Market turbulence escalated as over $630 million in long positions were liquidated shortly after the tariff announcement.
Analysts interpret the drop as a temporary correction, noting potential near-term support around $111,000. The tariff decision sparked widespread sell-offs not only in digital assets but also across traditional stock markets, amplifying broader economic apprehensions.
Despite the downturn, Bitcoin demonstrated underlying resilience with July’s monthly candle closing at $115,784 — an indicator analysts cited as reflecting the asset’s fundamental strength amid external economic pressures.