Bitcoin crash narrative returns as geopolitical tensions mount

Key Points

1. Bitcoin fell below $108,000 on July 7th as global markets reacted to renewed trade tensions sparked by Trump's tariff threats against U.S. allies.

2. Trump expanded tariff threats to include Malaysia, Kazakhstan, and South Africa, with rates ranging from 25% to 40%, increasing market uncertainty.

3. Bitcoin's drop mirrored the S&P 500's decline, showing synchronized risk-off behavior across asset classes.

4. The U.S. dollar surged against the yen and won as investors sought safer assets amid the trade tensions.

5. Despite a brief recovery to $108,899, market uncertainty persisted due to Trump's unpredictable trade policies and new threats targeting BRICS-aligned nations.