Bitcoin price came crashing down under $75,000 for the second time in the past week as Donald Trump’s 104% tariff on China went into effect. Riskier assets like equities and crypto have been facing the most heat in this tariff war, with BTC extending its weekly losses to 11%, with altcoins led by Ethereum (ETH) on a free-fall with more than 25% weekly losses.
As the world’s two largest economies enter a strong tariff war, massive uncertainty has gripped the global market. Thus, institutional selling for Bitcoin and other asset classes has also resumed with the BlackRock iShares Bitcoin Trust (IBIT) offloading 3,296 BTC yesterday, the third-largest Bitcoin ETF outflow since inception. The net outflows across all US Bitcoin ETFs yesterday were $326 million.
Source: Thomas Fahrer
The market has witnessed a classic bull trap as the Bitcoin price jumped to $80,400 in a relief rally, only to give up all of its gains as Trump tariff war impact continues to build selling pressure. As per
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