Trump's blow to Bitcoin: Prices have sharply get dumped.

The crypto market experienced a sharp get dumped following President Donald Trump’s announcement of customs duties on the European Union.

Trump, in a post he made today on Truth Social, stated, "The talks we are having with them are going nowhere." He proposed a 50% customs duty on EU-origin products starting from June 1.

Yesterday, Bitcoin, which saw its all-time high by surpassing 111 thousand dollars, fell to 107 thousand 337 dollars after this announcement. Before the sharing, BTC was trading at 110 thousand 880 dollars and quickly lost more than 3% in value.

Trump has previously caused a drop in Bitcoin with customs tariff announcements aimed at different countries, and recoveries in the market were seen following temporary trade agreements.

At the time the news was written, Bitcoin is trading at the level of 108,284 dollars.

Published: May 23, 2025 15:39