TradingKey – U.S. President Donald Trump has agreed to postpone the 50% tariff on the European Union for one month, triggering a Bitcoin price rebound, bringing BTC close to the $110,000 mark once again.
On Monday, May 26, Bitcoin(BTC) continued its upward momentum, approaching $110,000. As of publication, BTC has risen 1.55%, reaching a daily high of $109,844, currently trading at $109,522.
Bitcoin Price Chart – Source: TradingView.
Last Friday, Trump threatened to impose a 50% tariff on the EU starting June 1, causing Bitcoin to drop nearly 4%, falling toward $107,000. However, this morning, Trump announced an extension of the tariff deadline, triggering Bitcoin’s sharp recovery.
In a social media post early today, Trump stated: "I received a call from European Commission President Ursula von der Leyen requesting an extension of the 50% tariff deadline on EU trade. I have agreed to extend it until July 9, 2025."
Trump’s Post – Source: Truth.
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