Bitcoin dips after Trump announces a new iPhone and imposes fresh EU tariffs, triggering market volatility across tech and crypto sectors
This week has been a significant one for the foremost cryptocurrency. In a rather unexpected development, Bitcoin experienced a decline on Friday following the announcement by US President Donald Trump of new tariffs on the European Union (EU) and the release of a new Apple iPhone.
This week has been significant for Bitcoin, as the asset reached a new all-time peak of $111,000 on Thursday. Additionally, speculation is that this could signal a new bull market for the asset. Nevertheless, the sole factor that could potentially undermine that potential is the implementation of new policies that frighten investors.
New Trump Tariffs Reverse Bitcoin’s Record Surge
Bitcoin has experienced an extraordinary week thus far. The asset has been the focal point of a historic price increase that has resulted in new landmark levels. Additionally, the Texas House of Representatives advanced a measure to establish a strategic BTC reserve to the governor’s desk. The transfer would significantly impact the future price value.
Nevertheless, the market experienced a setback on Friday, as it was apprehensive that additional losses were imminent. Specifically, Bitcoin experienced a decline from its previous record-breaking pace in response to US President Donald Trump’s threat of new tariffs on the Apple iPhone and the EU union.
Immediately following the rumblings, BTC experienced a 4% decline due to the support. According to CoinMarketCap, the asset experienced a slight rebound, trading at the $109,000 level and experiencing a 1% decline at midday.
The EU would be subject to a 50% import tax under the new Trump tariff proposal, while the import duty on Apple products would increase by 25%. In the case of the former, Trump observes that trade negotiations with the bloc are not progressing.
Additionally, Apple was the subject of his criticism due to rumors that the company was planning to manufacture products in India.
Trump said :
“I expect their iPhone that will be sold in the United States of America will be manufactured and built in the United States, not India or any place.”
