Bitcoin, Ether Slip Slightly as Trump Hits EU and Mexico With 30% Tariff

Bitcoin Slips Because of the New Tariff Shock

The cryptocurrency market saw cautious movement on Saturday after President Donald Trump imposed a surprise 30% tariff on imports from Mexico and the European Union, effective August 1. The decision sparked fresh trade concerns, unsettling both traditional and digital markets. Bitcoin Slips Because of the New Tariff Shock.

Bitcoin dropped slightly to $117,400, slipping 0.6% from earlier highs. Ether followed suit with a 1% decline, trading at $2,930. Other top altcoins such as Solana (SOL) and Dogecoin (DOGE) posted deeper losses above 2%. Binance Coin (BNB) edged 0.7% lower.

Bitcoin Slips XRP Defies Trend, Trades Higher

XRP stood out from the pack. The payments-focused token gained 1.78%, supported by consistent buying interest amid rising global payment narratives.

The resilient move contrasted with most major cryptocurrencies, which struggled to maintain bullish momentum seen earlier in the week after Bitcoin broke above $110,000.

Tariffs Spark Market Uncertainty Bitcoin Slips

Trump announced the tariffs via letters shared on his Truth Social platform. In a message to Mexican President Claudia Sheinbaum, Trump criticized border cooperation as “not enough.” He also accused the European Union of maintaining a one-sided trade relationship.

The move adds to a week of trade policy shocks. Earlier, the White House introduced new levies on imports from Canada, Japan, South Korea, Brazil, and slapped a 50% tariff on copper — rattling commodity markets.

Crypto analysts expect weekend volatility to continue, with many traders eyeing Asia’s opening hours for direction.

What’s Next?

• Bitcoin is still testing the $118K ceiling. A breakout could push prices toward $120,000.
• Ether needs to reclaim $3,000 to signal renewed strength.
• Market watchers remain cautious amid global trade uncertainty and shifting investor sentiment.

“Expect chop through the weekend,” wrote LondonCryptoClub on X. “But Asia might come in strong Sunday night and push BTC over $120K.”