Bitcoin Price Slips. But Cryptos Are Weathering the Tariffs Storm.
July 8, 2025
Bitcoin price was edging lower on Tuesday, but it isn’t the sort of selloff that will spark any real concern among crypto bulls.
The world’s largest token by total market capitalization was down 0.7% to $108,292 over the past 24 hours, according to CoinDesk data. It’s now trading about 3% off the record high it hit back in May.
Other digital assets were also a touch lower. Ethereum was down 0.3%, Solana fell 1.3%, and XRP slipped 0.3% over the past 24 hours, per data from the crypto exchange Kraken.
Worries about U.S. tariffs may well have triggered the moves. Cryptos tend to move in tandem with tech stocks, and the Nasdaq 100 index closed 0.8% lower Monday after President Donald Trump posted several letters to world leaders threatening 25% to 40% levies from Aug. 1 if they don’t make a deal in the meantime.
MicroStrategy, the largest corporate holder of Bitcoin, refraining from buying could be another factor that dented crypto sentiment. The business intelligence company revealed Monday that it had declined to buy any tokens during the week ending July 6—it’s first week of no purchases since early April, when Trump imposed a barrage of tariffs on U.S. trading partners.
Write to George Glover at george.glover@dowjones.com
Search
RECENT PRESS RELEASES
Related Post
