Trump could not have picked a better time. Just as the entire crypto market is seen celebrating with bitcoin reaching a new ath and altcoins also gaining significantly, he threatens 50% tariffs on EU to begin on June 1st. Apparently because they have been difficult and unrelentless during the negotiations. I am assuming that this pissed off Trump and which is why he immediately declared straight 50% tariffs on EU.

As expected, the consequences have been quick. Futures for the S&P 500 and the Dow Jones Industrial Average slid 1.5% and Nasdaq futures tumbled 1.7% before the bell. Oil prices fell and Treasury yields sank. Bitcoin, which had recently pushed to new highs, tumbled to $108,500, marking a 2.7% drop in 24 hours.



I do not believe that this will make bitcoin collapse as seen as in many headlines (if you were to ask me, I think a lot of critics are hoping bitcoin crash lol) that I see. It just sucks that this economic/political decision has stopped (for now) bitcoin's journey to more aths. Do you think that had Trump not done this, will bitcoin go on to reach a new ath this week or at least before the month ends or do you think that Trump's announcement did not really make any difference as it would have gone to a similar ending?