Expert Says Trump’s 50% Tariff on EU Imports Presents Dip Opportunity for Bitcoin and Altcoins

Popular market veteran Michaël Van de Poppe remains unshaken by the recent market correction, predicting that this panic moment would soon provide massive returns. The broader crypto market experienced a major dip after President Donald Trump slapped a 50% tariff on all imports from the European Union. Earlier this week, the prices of major crypto assets surged tremendously thanks to a Bitcoin-led relief rally. Following the recent surge, Bitcoin set a new all-time high (ATH) record of $111,970 yesterday, May 22. Altcoins followed suit and also saw slight gains. Trump Announces 50% Tariffs on EU Imports However, the rally was short-lived. The broader financial markets, including crypto, tanked after Trump floated a plan to impose a 50% tariff on imports from the EU region. In a Truth Social post, President Trump disclosed that dealing with the EU has been challenging lately. According to him, the region’s policy, including its VAT taxes, trade barriers, monetary manipulations, and unfair lawsuits against American companies, have caused the U.S. an annual deficit of $250 million. He emphasized that this $250 million deficit is unacceptable, adding that recent discussions with the EU have ended in futility. As a result, he imposed a 50% tariff on all imports from the EU starting June 1, 2025. Notably, he clarified that the 50% tariff would not apply to goods manufactured by EU companies in the U.S. https://twitter.com/thecryptobasic/status/1925902103764943214Cryptos React As expected, Trump’s 50% tariffs on EU imports spooked the financial markets, including crypto and stocks. Investors feared the move could result in a trade war between the EU and the U.S. This prompted many investors to sell their crypto holdings, leading to a broader market crash. Specifically, Bitcoin, which traded around the $110,000 mark earlier today, slumped to around $107,400 in reaction to the tariff news. Although Bitcoin rebounded almost immediately to $109,500, the premier crypto is still down 2.2% from its new ATH. Van de Poppe Remains UnfazedMeanwhile, many stakeholders remain unfazed by the Trump-driven bloodbath across the crypto market. Interestingly, veteran market analyst Michaël Van de Poppe is one of those who do not seem troubled by the latest crash. The crypto expert emphasized that the recent market crash allows investors to scoop Bitcoin and altcoins at lower prices. He recounted how the crypto market rebounded sharply in the past sell-offs experienced a few months ago. For context, Trump’s trade war started on his first day in office, January 20, 2025. It initially started as a threat after he was sworn in as the 47th President of the United States. However, he followed through by issuing executive orders on February 1, slapping high tariffs on goods imported from several countries, including China, Canada, and Mexico. These countries retaliated by also imposing tariffs on U.S. goods. However, Trump continued to raise duties and eventually imposed a 145% tariff on China imports, while the latter reciprocated with a 125% tariff on goods from the United States. This trade war crashed the prices of major financial instruments, including Bitcoin. The premier crypto, which hit $109,114 on January 20, eventually crashed to $74,000 three months later, specifically on April 9, 2025. Interestingly, crypto prices have soared ever since Trump announced a 90-day pause on all reciprocal tariffs in April. Amid this favorable market condition, Bitcoin reached a new all-time high of $111,970 yesterday. Although the top crypto has slumped to around $109,500 due to Trump’s latest tariff on EU goods, Poppe sees this dip as an opportunity to buy BTC at low prices in anticipation of an imminent rally.