Cryptocurrencies experience a sudden dip as Trump proposes a 50% tariff on EU goods, leading to a 4% drop in Bitcoin (BTC) and over 3% drop in Ethereum (ETH).
The market reacts as Trump intensifies global tariff negotiations, causing concerns about escalating trade tensions and retaliatory actions from the EU.
Investors fear the impact of potential tariffs on global market conditions as the 90-day tariff pause nears expiration in July, putting pressure on ongoing negotiations.
Crypto market faces uncertainty and volatility as Trump's involvement in cryptocurrency, including the TRUMP memecoin gala dinner, stirs controversy and triggers market reactions.