Bitcoin, Ether Tentative, XRP Steady as Trump Announces 30% Tariff on EU and Mexico

The main cryptocurrencies, with the exception of XRP, registered slight losses because President Donald Trump announced fresh tariffs for imports from Mexico and the European Union (EU).

The President slapped 30% of the fees for two business partners who would come into force from 1 August, according to the letters of Trump published on his Social Account of Truth.

“Mexico helped me secure the border. But what Mexico did is not enough,” Trump wrote In a letter to Mexican President Claudia Sheinbaum. In another letter to the President of the European Commission Ursula von der Leyen Trump, he described the relationship with the EU far from mutual.

At the beginning of this week, Trump released new tariffs for several countries, including South Korea, Japan, Canada and Brazil, along with 50% tariff on copper, trigger On the Red Metal market.

Bitcoin

According to the market value, the front cryptocurrency was traded around $ 17,400 after the announcement of Trump by 0.6% of the European meeting of the maximum $ 18,200. Prices failed to set over $ 118,000 more than Friday’s early Asian trade hours, showing Coindesk data.

Ether (ETH)The second largest token, traded by 1% lower day (UTC) For $ 2,930, when he put on Friday a candle to doji. Solan’s Sol and Doga traded 2% lower, while BNB dropped by 0.7%. Meanwhile, XRPs focused on payments traded relatively resistant and blinked 1.78% of profit when writing.

The weak tone was followed by an intense bull price action in the middle of the week, which saw that BTC was blowing around a long resistance to $ 110,000, which led to restoring risks on the wider crypto market. Some analysts at the weekend expected a continued tie.

“Expectations this weekend are now we can chop within easy reach. Then Asia comes late Sunday evening and buys all bitcoins and breaks $ 120,000,” said the founders of the LondonCryptoClub news service on X.