According to Mihir (@RhythmicAnalyst), Bitcoin experienced a notable price drop today following former President Donald Trump's announcement of a potential 50% tariff on EU goods. This trade policy news triggered broad risk-off sentiment in global markets, impacting BTC as investors moved to reduce exposure to volatile assets (source: Mihir on Twitter, May 23, 2025). While some traders continue to question Bitcoin’s status as a reliable store of value amid macroeconomic shocks, institutional buyers like Michael Saylor remain active, providing ongoing support for BTC accumulation. The market reaction highlights Bitcoin’s sensitivity to geopolitical news and underlines the importance of monitoring global policy developments for crypto trading strategies.

According to Evan (@StockMKTNewz) on Twitter, President Trump announced that he is recommending a straight 50% tariff on the European Union, set to begin June 1st (source: Twitter, May 23, 2025). This aggressive trade move is expected to increase market volatility, particularly affecting stocks with global supply chain exposure. For cryptocurrency traders, heightened geopolitical tensions and uncertainty in traditional markets could lead to increased demand for decentralized assets such as Bitcoin and Ethereum, as investors seek hedges against fiat currency instability and potential disruptions in cross-border capital flows.