Bitcoin dropped to $114,300 on Friday—its lowest since June 11—after President Donald Trump signed an executive order ramping up trade tariffs across multiple nations. The geopolitical move triggered a sharp sell-off across crypto markets, which were already showing signs of weakness.
CoinMarketCap reports a 2.6% daily BTC decline and a 7% fall from its $123,000 all-time high. The broader market saw $110 billion in capital wiped out over 12 hours, marking one of the most intense short-term corrections in recent months.
CoinGlass data reveals over 164,000 traders were liquidated in the past day, with total losses across all coins reaching $644 million—$152 million of which came from Bitcoin long positions.
Trump’s order includes steep tariffs for countries without standing deals, like South Africa and Switzerland, and raises Canada’s rate from 25% to 35%. Global markets recoiled at the scale of the measures, with risk assets—including crypto—seeing immediate impact.
Still, Bitcoin ended July with its highest monthly close in history at $115,784, suggesting longer-term strength. Analysts say BTC’s next key support is around $111,000, though volatility will remain high as markets digest trade tensions and inflation risks.
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