- Trump’s fresh tariff warnings trigger market turbulence and a sharp decline across major cryptocurrencies.
- Over 91% of Bitcoin holders remain in profit despite the recent downturn.
In a surprising escalation of trade tensions, U.S. President Donald Trump has doubled down on his tariff policy, firmly rejecting any postponement of the looming deadline on the 9th of July.
Trump’s tariff plans
As reported by Bloomberg TV, Trump reiterated his readiness to terminate ongoing negotiations and enforce increased duties on several countries, including key economic partner Japan.
He said,
“No. No, I’m not. I’m not thinking about the pause.”
As expected, his renewed tariff threats have sent shockwaves through financial markets, disrupting earlier stability.
Trump’s tough trade talk hits markets
Following his remarks aboard Air Force One, U.S. equities saw an immediate downturn, with the S&P 500 shedding 14 points amid growing investor unease.
The crypto market too mirrored this turbulence, as uncertainty surrounding international trade talks prompted a sell-off.
Bitcoin [BTC] slipped by over 1.5%, while Ethereum [ETH] saw a sharper 4% decline.
Altcoins faced steeper losses, as Ripple [XRP] slipped to $2.17, down 5.24%, while Dogecoin [DOGE] declined 3.5% to around $0.75.
Still, recent market signals indicate a cautious recovery is taking shape.
The community also expressed surprise at Trump’s remarks, as noted by one X user, who said,
“Great so we won’t have any deal, markets are gonna crash, economy is gonna be in the gutter… “Art of the deal”
Trump hinted at a breakthrough deal with India
In contrast to his firm stance on tariff talks with other nations, President Trump struck a more hopeful tone regarding a potential agreement with India.
He said,
“Possibly. That’s going to be a different kind of a deal.”
He added,
“It’s going to be a deal where we’re able to go in and compete. Right now, India doesn’t accept anybody in. I think India is going to do that, and if they do that, we’re going to have a deal for much less tariffs.”
This suggests that negotiations with India may follow a distinct path, possibly reflecting strategic considerations or mutual interests that set it apart from the broader trade disputes currently unfolding.
Is Trump going in the right direction?
Amid ongoing uncertainty, a recent CNBC video acknowledged that Trump’s tariffs have generated over $121 billion for the U.S., a vindication of his stance, contrary to earlier expert skepticism.
“Trump has been right about everything.”
Further confirming this, recent data from IntoTheBlock reveals that over 91% of Bitcoin holders are currently in profit, highlighting a strong underlying bullish sentiment despite short-term volatility triggered by tariff-related tensions.
Meanwhile, fewer than 2% of BTC holders are currently at a loss, suggesting growing confidence in a possible price recovery.
Source: IntoTheBlock
Echoing this outlook, Robert Kiyosaki, author of “Rich Dad, Poor Dad,” has already characterized such dips in Bitcoin’s value following Trump’s tariff announcements as not a setback.
Instead, he called it a discounted buying opportunity, hinting at confidence in BTC’s long-term trajectory even amid geopolitical uncertainty.
