Bitcoin’s Market Movement

Bitcoin’s price of $107,849.11 experienced a modest rally over the weekend but reversed on Monday due to President Trump’s tariff policies.

The largest cryptocurrency slipped below $108,000 during the U.S. afternoon, showing a decrease of 0.8% in the past 24 hours. Ethereum’s Ether (ETH) stood at $2,526.68, down 0.6%. Smaller cryptocurrencies, including Solana’s SOL at $149.54, Dogecoin (DOGE) at $0.1667, and Sui’s SUI at $2.8558, all saw declines ranging from 1% to 2%. Meanwhile, XRP outperformed with a gain of over 2%.

Investor sentiment was dampened as President Trump intensified tariffs while postponing his self-imposed July 9 trade deal deadline to August 1. In official letters to counterparts in Japan and South Korea, Trump announced 25% tariffs on products from these nations starting August 1. He also threatened additional levies on countries aligning with policies from BRICS, comprising Brazil, India, China, and Russia.

White House Press Secretary Karoline Leavitt mentioned in a press conference that the government would soon communicate tariff rates or announce trade deals with more countries.

In stock market reactions, the Nasdaq and S&P 500 indexes dropped approximately 1% on Monday, while yields on 10-year U.S. Treasury bonds increased, approaching 4.4%.