By |Edited by
Jul 7, 2025, 6:15 p.m.
- Bitcoin’s weekend rally was reversed Monday, slipping below $108,000 during the U.S. session. ETH and SOL also headed lower, while XRP outperformed.
- President Trump set 25% tariffs against Japan and South Korea, while delaying the due date for trade deals overall from July 9 to August 1.
- The president also threatened additional tariffs on countries aligning with BRICS policies.
Bitcoin’s
very modest weekend rally modestly reversed on Monday as President Trump’s tariff policies took center stage again.
The largest cryptocurrency slipped below $108,000 during the U.S. afternoon, down 0.8% over the past 24 hours. Ethereum’s ether
was 0.6% lower, while smaller cryptos including Solana’s SOL
, dogecoin
, Sui’s SUI
declined 1%-2%. XRP
outperformed with more than a 2% gain.
STORY CONTINUES BELOW
Dampening investor sentiment was the President Trump ramping up tariffs even while delaying his self-imposed July 9 trade deal deadline to August 1.
to counterparts in Japan and South Korea, President Trump set 25% tariffs on products from those two countries starting on August 1. In a Monday social post, Trump additional levies on countries aligning with policies by the BRICS, a loose intergovernmental group of countries including Brazil, India, China and Russia.
In a press conference, White House Press Secretary Karoline Leavitt said the government will send out letters to more countries about tariff rates or announce trade deals in the coming days.
The Nasdaq and S&P 500 indexes were lower by about 1% on Monday, while yields on 10-year U.S. Treasury bonds also headed higher, nearing 4.4%.
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University’s business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
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