Investing.com-- Bitcoin fell on Tuesday as new U.S. tariffs announced by President Donald Trump dampened risk appetite, while uncertainty over the tariff deadline added to investor caution.
The world’s largest cryptocurrency fell 0.5% to $108,224.20 as of 02:17 ET (06:17 GMT).
The token has remained range-bound in recent sessions, with traders avoiding large positions amid uncertainty over global economic policy.
Trump tariffs, shifting deadline stoke investor caution
U.S. President Donald Trump on Monday began sending tariff letters, notifying 14 countries that sharply higher duties will take effect on August 1.
The list included major U.S. trading partners such as Japan and South Korea, along with smaller exporters like Serbia, Thailand, and Tunisia.
The letters outlined a 25% levy on all goods from Japan and South Korea, while some nations face up to 40% tariffs.
The new tariff rates were earlier set to take effect on July 9, but President Trump signed an executive order on Monday, delaying the deadline by three weeks to August 1.
Even after the extension, Trump said that the August deadline was "not 100% firm,” and that he was open to alternate proposals from trade partners.
For cryptocurrencies, which often rely on broader risk sentiment and investor confidence, such uncertainty has dampened demand.
Cryptocurrencies have struggled to find clear direction in recent sessions, and the latest developments are likely to keep markets choppy.
Looking ahead, investors are focused on “Crypto Week” starting July 14, when U.S. lawmakers in Washington are expected to push forward at least three major bills aimed at regulating digital assets.
Among them are the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act.
Crypto price today: most altcoins fall in range-bound session
Most altcoins also fell in a range-bound trading session amid broader U.S. tariff uncertainty.
World no.2 crypto Ethereum fell 0.4% to $2,554.09.
Bucking the trend, world no. 3 crypto XRP gained 0.5% to $2.269, while Polygon added 1.5%.
Solana fell 1.1%, while Cardano lost 0.8%.
Among meme tokens, Dogecoin fell 2.4%, while $TRUMP declined 1%.