Bitcoin dips below $115K as Trump tariff order fails to comfort investors
Main Idea
Bitcoin dropped to a three-week low below $115,000 due to investor concerns triggered by Trump's tariff executive order, leading to a broader sell-off in stocks and crypto markets.
Key Points
1. Bitcoin fell to $114,250, its lowest since June 11, with a 2.6% decline bringing it 6.5% below its all-time high of $122,800.
2. A total of 158,000 traders were liquidated, amounting to $630 million in losses over the past 24 hours, mostly from long positions.
3. Trump's tariff executive order imposed tariffs between 19% and 39% on countries like South Africa, Switzerland, Taiwan, and Thailand, contributing to market uncertainty.
4. Analysts suggest the sell-off was driven by profit-taking after recent highs, geopolitical tensions, and uncertainty over tariffs, rather than a structural market shift.
5. A potential deal with China could ease market tensions and reduce uncertainty, according to Apollo Capital's chief investment officer.
Description
Bitcoin tumbled to a three-week low near $114,000 as Trump’s tariff executive order triggered a stock and crypto sell-off.
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