Key Takeaways:
- Bitcoin dropped to a three-week low near $114K after Trump’s new trade tariffs sparked broader market volatility.
- Over $630 million in crypto positions were liquidated, with around $110 billion exiting spot markets before the announcement.
- Analysts warn of persistent trade uncertainty impacting risk sentiment, with technical support for Bitcoin seen near $111K.
Bitcoin fell to a three-week low near $114,250 early Friday as markets reacted to U.S. President Donald Trump’s sweeping tariff order, triggering a wave of selling across crypto and equities.
The move broke Bitcoin out of its recent trading range, with analysts eyeing $111,000 as the next major support.
JUST IN: Bitcoin falls under $115,000 pic.twitter.com/GbbnpyQzen
— Watcher.Guru (@WatcherGuru) August 1, 2025
The price dip came alongside a $110 billion outflow from spot crypto markets in just 12 hours, with over 158,000 traders liquidated for a total of $630 million, mostly from long positions.
Trump’s executive order raised tariffs on Canadian goods from 25% to 35% and imposed new rates on countries including South Africa, Taiwan, and Switzerland.
Despite the policy shift, some experts described the sell-off as more of a reaction to rising volatility than a structural market change.
“Surface-level clarity, but beneath it lies a fog of uncertainty,” said VP Bank’s Thomas Rupf.
Broader market sentiment was already under pressure, and analysts say continued uncertainty around trade and upcoming U.S. economic data may keep investors cautious.
Still, Bitcoin closed July with its highest-ever monthly candle at $115,784, even amid the pullback.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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