Due to Trump's plan to impose a 25% tariff on the European Union, Bitcoin big dump

MarsBitNews

2025-02-26 19:23:19

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Original Title: Bitcoin, Broader Market Dips After Trump Plans to Impose 25% Tariffs on EU

Original Author: Aoyon Ashraf

Original Source: coindesk.com

Compiled by Daisy, Mars Finance

Bitcoin and the broader market are falling as Trump plans to impose a 25% tariff on the European Union.

After Trump mentioned tariffs at the first cabinet meeting on Wednesday, both Bitcoin and the S&P 500 index fell to their lowest points of the day.

Key points: Bitcoin (BTC) price and the broader stock market fell to daily lows on Wednesday after U.S. President Donald Trump announced plans to impose a 25% tariff on the European Union during his first cabinet meeting.

The price of Bitcoin fell below $84,000, dropping more than 5% in the past 24 hours, while the S&P 500 also fell to its daily low. The broader digital asset market index CoinDesk20 fell 2.3% on Wednesday.

“We have made a decision and will announce it soon. It will be 25%.” The Financial Times reported Trump as saying.

After the recent market sell-off, some people believe that this downturn may be the bottom. However, Trump’s tariff plan on the EU seems to have dampened market optimism.

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