Bitcoin prices slipped on Thursday after U.S. President Donald Trump confirmed progress in trade negotiations with China but warned that new tariffs on major economies would be announced in the coming weeks.
Investors also closely assessed the softer-than-anticipated U.S. consumer inflation data released a day earlier to assess tariff pressures, and the Federal Reserve’s rate outlook.
The world’s largest cryptocurrency fell 1.7% to $107,782.20 as of 2:10 ET (06:10 GMT).
Trump’s unilateral tariff threats spook investors U.S. President Donald Trump said on Wednesday in London that a framework trade “deal” with China is “done,” conditional on approval from him and President Xi Jinping, following two days of negotiations in the UK capital.
Under the tentative pact, China would resume export licenses for rare earth minerals and magnets “up front,” while the U.S. would maintain a 55% tariff on Chinese imports. China would continue charging 10% on U.S. goods. The agreement also allows Chinese students to retain access to American universities.
However, Trump added he plans to send letters to major economies in the coming weeks outlining tariff offers, “take it or leave it,” ahead of a July 9 deadline tied to his cautious pause on broad tariffs. He noted he is prepared to extend the deadline but expects it won’t be necessary.
Markets have reacted cautiously, viewing the London framework as a limited truce rather than a comprehensive resolution.
Despite initial optimism around a tentative trade framework reached in London, crypto prices edged lower on Thursday, as traders reassessed the implications of prolonged global trade friction.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads. Investors now await the Fed’s interest rate decision next week, where the central bank is expected to hold rates steady.
The U.S. CPI data released a day earlier boosted rate cut bets this year.
Crypto price today: Most altcoins slip; Cardano drops 5% Most altcoins also fell on Thursday amid the broader risk-off mood.
World no.2 crypto Ether fell 1% to $2,760.11.
World no. 3 crypto XRP slid 1.9% to $2.2507.
Solana dropped 4%, while Cardano slipped 5%, and Polygon lost 1.7%
Among meme tokens, Dogecoin fell 4%, while $TRUMP declined 4.2%.
