Bitcoin Price Subdued as 'Trump Always Chickens Out' Backlash Looms
Bitcoin remained stable above $104,000 amid U.S.-China trade tensions and tariff announcements. President Trump increased tariffs on steel and aluminum from 25% to 50%, effective June 4, citing a need to secure the U.S. steel industry. This escalation led to nearly $1 billion in crypto liquidations, but Bitcoin's price showed resilience, trading at $104,158 with a slight increase of 0.1%. Institutional interest persisted, with Japan’s Metaplanet adding $114 million in BTC. Analysts noted that tariff headlines may cause market volatility but do not indicate a structural shift in Bitcoin's value. China responded to Trump's claims, labeling them "groundless" and warning of retaliatory measures. A federal appeals court reinstated Trump-era tariffs, pausing a previous ruling against them.
