Bitcoin slips below $65K as Trump unveils new global tariffs

Bitcoin has fallen below $65,000 after the Trump administration announced tariffs of 10% to 12.5% on imports from 60 trading partners covering more than 99% of U.S. trade. Summary Bitcoin fell below $65,000 after Trump announced new tariffs covering 60 major trading partners. Strong U.S. jobless claims data and rising Treasury yields added pressure on risk assets. Crypto liquidations reached about $162 million as leveraged long traders absorbed most of the losses. CNBC reported that the duties will take effect at 12:01 a.m. ET on Friday, replacing the temporary 10% global tariff scheduled to expire the same day. The Office of the U.S. Trade Representative has linked the measures to what it described as inadequate enforcement against goods made with forced labor. Bitcoin traded as low as $64,985 on Thursday, July 23, before briefly recovering above $65,000. crypto.news data showed the asset down about 1.5% over 24 hours, with its market capitalization standing near $1.3 trillion. Selling resumed after details of the tariff plan emerged, leaving the rebound above $65,000 short-lived. Short-interval charts showed consecutive bearish candles during the decline, while CoinGlass recorded...