Trump’s India 50% tariffs seen as ‘attack’ on Bitcoin

Trump’s India 50% tariffs seen as ‘attack’ on Bitcoin originally appeared on TheStreet.

Crypto traders are accusing President Donald Trump of wanting to crash Bitcoin on purpose — just to “clear the order books” before the next leg up.

On Aug. 5, Discord channels lit up after Trump signed a sweeping Executive Order slapping a 25% tariff on all imports from India.

India’s continued purchase of Russian oil, which Trump claims is undercutting U.S. sanctions. But for crypto traders, the bigger concern is what this could do to markets — and Bitcoin in particular.

“Trump really trying to send $BTC back below $110k to clear the order books before the next move up,” said Discover Crypto, a prominent account on X.

A pseudonymous trader in a private Discord server, seen by TheStreet Roundtable, called it “a direct attack on risk-on assets like BTC.” He added, “It’s like he’s running monetary policy from his phone again. No one wants to see BTC back at $98k just because of a tantrum over oil.”

The crypto crowd’s frustration isn’t just price-based — it’s also rooted in what they see as Trump’s erratic policy style. “The same man who wants Bitcoin donations is nuking global trade. Can’t have both,” another trader wrote.

Trump vs India, round two

The 25% tariffs, set to take effect on September 17, follow a string of trade escalations from the White House. Trump’s new order cites India’s indirect imports of Russian oil as the core violation — claiming they’re undermining sanctions and posing “an extraordinary threat” to U.S. national security.

“I determine that it is necessary and appropriate to impose an additional ad valorem duty on imports of articles of India,” the order reads. It adds that goods shipped before the 21-day deadline will be exempt, but anything beyond that date will be taxed — with no exceptions for stacking tariffs or bonded warehousing.

This comes just months after the U.S. and India appeared to be on track for closer economic cooperation. Now, with Trump triggering fresh trade disputes, the relationship is rapidly deteriorating.

And the timing couldn’t be worse for crypto bulls.

Historically, rising tariffs and trade tension send investors into risk-off mode — fleeing to cash or stable assets. That often means selling Bitcoin, Ethereum, and altcoins. With BTC hovering just above $114K, some fear a dip below the key $110K psychological mark could trigger more liquidations.

As one trader put it: “It’s not just about India. This sets the tone for more chaos — and chaos hits crypto first.”

Crypto markets flat as $267M in liquidations shake traders

The crypto market is treading water today, with major assets like Bitcoin and Ethereum showing little movement after a wave of liquidations wiped out over $267 million in 24 hours.

Bitcoin is trading at $114,368, down just 0.3% on the day, while Ethereum is hovering at $3,618.53, showing a minimal 0.1% gain. Other top tokens like XRP ($2.97), BNB ($764.20), and Solana ($165.76) are also mostly flat, though DOGE posted a modest 0.2% rise.

According to Coinglass, 120,403 traders were liquidated in the past 24 hours, with the single largest order being a $2.55 million BTC position on Bybit crypto exchange. The shakeout appears to have cooled down the recent momentum that pushed prices higher earlier this week.

XRP remains one of the more active assets, up 1.7% over the past day and 3.5% over the last week, likely driven by renewed investor confidence amid regulatory clarity and bullish technical indicators.

Despite low volatility, total 24-hour trading volume remains healthy, with Bitcoin and Ethereum alone accounting for nearly $60 billion in combined volume.

Trump’s India 50% tariffs seen as ‘attack’ on Bitcoin first appeared on TheStreet on Aug 6, 2025

This story was originally reported by TheStreet on Aug 6, 2025, where it first appeared.

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