This has been a monumental week for major cryptocurrencies so far. But amid a rather surprising shift in events, Bitcoin dropped on Friday in news that US President Donald Trump announced tariffs for the brand new Apple iPhone and European Union (EU).
It was a monumental week for Bitcoin as assets surged to a new high of $111,000 on Thursday. Furthermore, there is hope that this could be the beginning of a new bull rally for assets. But what can be denied is a new policy that will surprise investors.
New Trump tariffs knock back on Bitcoin after a record surge
So far, it’s been an incredible week for Bitcoin. The assets were at the heart of a historic price rise that reached new landmark levels. Additionally, the Texas House of Representatives has advanced the bill to establish a strategic BTC reserve at the governor’s desk. This move will be immeasurable for future price values.
However, things took a step back on Friday. The market is concerned that even more losses may be approaching. Specifically, Bitcoin has fallen from a record pace with President Donald Trump, threatening new tariffs on both the Apple iPhone and the EU bloc.
Love has led to BTC dropping by 4% shortly after rumble was headlined. According to CoinmarketCap, assets have recovered somewhat, down just 1% at noon points, trading at the $109,000 level.
The new Trump tariff plan will incur a 50% import tax on the EU, and Apple products face an increase in import tariffs of 25%. For the former, Trump points out that trade is not going anywhere with the bloc. ”
Additionally, he targeted Apple for the rumbling that the company was planning to produce its products in India. “I think iPhones for sale in the United States will be manufactured and built in the United States, not in India or in the location,” Trump said.
