<ul><li>President Trump proposed a 50% tariff on EU starting June 1, citing no meaningful results from talks and a substantial trade deficit for the US.</li><li>This announcement had an immediate impact on cryptocurrency markets, with Bitcoin dropping below $109,000 from $111,000 after reaching an all-time high the previous day.</li><li>Bitcoin had previously experienced a significant drop when Trump initiated a trade war, hitting a low of under $75,000, but had since recovered and broken its January all-time high.</li><li>After Trump's recent statement, altcoins also turned red, causing significant losses in the market and leading to over $450 million in liquidated positions and wrecking almost 150,000 traders.</li></ul>

Bitcoin Slumps Below $109K as Trump Proposes New Tariffs Against EU

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