Overview
- Bitcoin slid to a three-day low near $64,799 on July 23, pressured first by President Trump’s public warning about a “massive attack” on Iran and then by a newly announced tariff package on imports from 60 trading partners.
- The USTR tariff plan sets 10%–12.5% duties tied to forced‑labor enforcement, broadening trade uncertainty and arriving during a session of rising oil prices and stronger U.S. labor data.
- Brent crude climbed above $100 per barrel and CME Group’s FedWatch showed odds of a July 0.25% Fed hike jumping sharply, which pushed Treasury yields higher and raised concerns about inflation and borrowing costs for investors.
- Rapid selling exposed leveraged crypto positions, with CoinGlass reporting about 62,869 trader liquidations totaling roughly $162 million, and U.S. stocks also weakening with the Nasdaq down about 2.2% and the S&P 500 off about 1.2%.
- Traders are divided on what comes next: some analysts say holding technical support could reopen a path to new highs, while others advise shorting breaks below $65,000; the White House says no final military decision has been issued.