Bitcoin Crashes on Trump’s New Trade War Threat—August 1 Could Be the Day Everything Breaks

Key Points

1. Bitcoin fell to $107,936.08, a 0.74% drop in 24 hours, amid global risk-off sentiment triggered by Trump's tariff threats.

2. Trump announced new tariffs, including 25% on Japan and South Korea, and up to 40% on goods from Laos and Myanmar, using the International Emergency Economic Powers Act.

3. The S&P 500 dropped nearly 1%, and Japanese automakers like Toyota and Honda saw significant share price declines.

4. The White House delayed the initial July 9 tariff deadline to August 1, adding to market uncertainty.

5. Bitcoin futures showed a rebound with open interest rising 7%, but price action remained cautious, with potential downside risks if support levels break.