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Bitcoin plunged over 4% from its recent all-time high as President Trump announced potential tariffs on EU goods and iPhones not made in the USA. The S&P 500 and oil futures also declined, while gold saw a notable uptick.
- Trump proposed a 50% tariff on EU imports and a 25% tariff on iPhones not made in the U.S., citing trade imbalances.
- Bitcoin's drop erased recent gains, with the top 10 cryptocurrencies all declining—Solana performed best, down only 1.2%.
- Traditional markets reacted negatively, with S&P 500 and oil futures falling, while gold rose 1.5% as a safe-haven asset.
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