What impact does Trump imposing a 100% tariff on Russian threats, supplying weapons to Ukraine have on Bitcoin?

▍BTC fell back below 120,000 after reaching a historical high.

The price of Bitcoin surged rapidly over the weekend and early Monday, reaching a historical peak of 123,091 USD, but then fell to 120,124 USD, and as of the time of writing, it hovers around 119,900 USD. This pullback coincided with Trump issuing threats of new tariffs against Russia and confirming military aid to Ukraine.

Despite the short-term adjustments, analysts point out that if the cryptocurrency bill is passed this week, Bitcoin may still initiate a new round of upward movement. Some institutions predict that this bull market could drive BTC prices to a new high of $136,000.

▍Trump's 100% Tariff Threat on Russia Triggers Market Turbulence

At a joint press conference with NATO Secretary General Mark Rutte, Trump stated: "If the Ukraine conflict does not cease within 50 days, the United States will impose 100% secondary tariffs on Russia." He also confirmed a large-scale arms deal with Ukraine: "We will immediately deliver various weapons, with European allies covering the costs."

Affected by this news:

• Bitcoin price briefly dropped over 3000 USD
• Testing $119,000 key support level
• Previously, Trump announced a 30% tariff on goods from Mexico and the EU, and a 50% tariff on copper products from multiple countries.

▍On-chain data reveals profit selling pressure or a potential short-term top

According to CryptoQuant monitoring data:

• Net inflow to exchanges surged after Bitcoin reached $123,000.
• Show that investors are taking profits
• "Such capital flows often indicate a local top, which may trigger a healthy correction or consolidation."

Market sentiment indicator shows:

• Cryptocurrency Fear and Greed Index rises to 70 (Greed Zone)

• The open interest in the derivatives market increased by 3.87% to $879.5 billion.

• Trading volume surged by 146.88% to $152 billion, indicating strong bullish momentum but could be overbought.

  

▍Key Observations for the Future Market of BTC

1. Geopolitical Risk: The escalation of the US-Russia tariff dispute may continue to impact the market.
2. Progress in Cryptocurrency Regulation: The voting results of the U.S. cryptocurrency bill will be an important catalyst.
3. Technical Support: $119,000 has become the short-term bull-bear dividing line.
4. On-chain signals: Changes in exchange inflows and institutional holding trends