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

Major cryptocurrencies, excluding XRP, registered mean losses arsenic President Donald Trump announced caller tariffs connected imports from Mexico and the European Union (EU).

The President slapped 30% levy connected the 2 trading partners, which volition instrumentality effect from Aug. 1, according to letters Trump posted connected his Truth Social account.

"Mexico has been helping maine unafraid the border. BUT, what Mexico has done, is not enough," Trump wrote successful a missive to Mexican President Claudia Sheinbaum. In different missive to European Commission President Ursula von der Leyen, Trump called the narration with the EU acold from reciprocal.

Early this week, Trump issued caller tariffs for respective countries, including South Korea, Japan, Canada and Brazil, on with a 50% tariff connected copper, triggering volatility successful the marketplace for the reddish metal.

Bitcoin (BTC), the starring cryptocurrency by marketplace value, traded astir $17,400 pursuing Trump's announcement, down 0.6% from the European league precocious of $18,200. Prices person failed to found a foothold supra $118,000 multile times since Friday's aboriginal Asian trading hours, CoinDesk information show.

Ether (ETH), the second-largest token, traded 1% little connected the time (UTC) astatine $2,930, having enactment successful an indecisive doji candle Friday. Solana's SOL and DOGE traded implicit 2% little portion BNB was down 0.7%. Meanwhile, payments-focused XRP traded comparatively resilient, flashing a 1.78% summation arsenic of writing.

The anemic code followed aggravated bullish terms enactment mid-week that saw BTC stroke past the long-held absorption astatine $110K, prompting renewed risk-taking successful the broader crypto market. Some analysts anticipated a continued indecisive terms enactment implicit the weekend.

"Expectations this play are we chop astir successful choky scope today. Then Asia comes successful precocious connected Sunday evening and buys ALL the Bitcoin, and we interruption done $120k," the founders of the newsletter work LondonCryptoClub said connected X.