{"id":6597,"date":"2025-08-03T13:26:08","date_gmt":"2025-08-03T13:26:08","guid":{"rendered":"https:\/\/bitunikey.com\/news\/jobs-tank-tariffs-rise-bitcoin-price-drops-trump-appointee-cites-dangerous-precedent\/"},"modified":"2025-08-03T13:26:16","modified_gmt":"2025-08-03T13:26:16","slug":"jobs-tank-tariffs-rise-bitcoin-price-drops-trump-appointee-cites-dangerous-precedent","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/jobs-tank-tariffs-rise-bitcoin-price-drops-trump-appointee-cites-dangerous-precedent\/","title":{"rendered":"Jobs tank, tariffs rise, Bitcoin price drops\u2014Trump appointee cites \u2018dangerous precedent\u2019"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Bitcoin\u2019s price slipped to a key support level on Sunday as investor appetite waned, tariffs rattled markets, and weak U.S. jobs data raised fresh concerns about economic momentum.<\/p>\n<p>At last check, Bitcoin was trading just below $114,000. That\u2019s down 3.5% over seven days. See below.<\/p>\n<figure class=\"wp-block-image size-large\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14402255\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" target=\"_blank\">CoinGecko<\/a><\/figcaption><\/figure>\n<div id=\"cn-block-summary-block_7dc3a964118aa0adfea7cfa37f027dcd\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Bitcoin price crashed to $112,000, down by 8.9% from its all-time high.<\/li>\n<li>The drop occurred after Trump implemented tariffs on specific countries and following the release of weak jobs data.<\/li>\n<li>It has formed a break-and-retest pattern, indicating a strong rebound this week.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h2 class=\"wp-block-heading\">Bitcoin price crashes as risks rise<\/h2>\n<p>Bitcoin\u2019s (BTC) price retreated as demand for spot BTC ETFs declined in the U.S. Data <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/sosovalue.com\/assets\/etf\/us-btc-spot\" target=\"_blank\">show<\/a> that spot BTC ETFs experienced a net outflow of over $812 million on Friday, surpassing the $114 million recorded a day earlier.\u00a0<\/p>\n<p>The weekly data shows that demand among investors has been in a downtrend. These funds experienced a net inflow of $2.72 billion in the week of July 11, followed by a decrease to $2.39 billion in the subsequent week.\u00a0<\/p>\n<p>Bitcoin ETF inflows then slowed by $72 million in the week of July 25, followed by net outflows of $643 million last week.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Trump fires messenger as BTC breaks<\/h2>\n<p>Bitcoin price also dropped after President Donald Trump announced tariffs on key countries last week. The U.S. will charge a tariff of at least 15% on all imported goods, putting the American and global economy at risk of a slowdown.\u00a0<\/p>\n<p>The impact of Trump\u2019s trade war became apparent last week when the U.S. released weak jobs data<strong>. <\/strong>In a report, the Bureau of Labor Statistics (BLS) revealed that the U.S. economy added only 73,000 jobs in July. That\u2019s much lower than the expected 110,000.\u00a0<\/p>\n<p>The BLS also downgraded the estimate of the recent numbers. This revision implied that the economy created just 35,000 jobs in the last three months, the smallest increase since 2020.<\/p>\n<p>Trump promptly fired BLS commissioner Erika McEntarfer. <\/p>\n<p>William Beach, a 2017 Trump appointee and McEntarfer\u2019s immediate predecessor at BLS, rebuked Trump\u2019s decision. \u201cThe totally groundless firing of Dr. Erika McEntarfer, my successor as Commissioner of Labor Statistics at BLS, sets a dangerous precedent and undermines the statistical mission of the Bureau,\u201d Beach <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/BeachWW453\/status\/1951376029060055506\" target=\"_blank\">wrote<\/a> on social media.<\/p>\n<p>The tariffs and the weak jobs data explain why the stock and crypto markets pulled back last week.<\/p>\n<h2 class=\"wp-block-heading\">Bitcoin price technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14402235\"><source type=\"image\/webp\" ><\/source><br \/>\n<img loading=\"lazy\" decoding=\"async\" width=\"3574\" height=\"1988\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2025\/08\/1754227568_329_Jobs-tank-tariffs-rise-Bitcoin-price-drops\u2014Trump-appointee-cites-\u2018dangerous.png\" alt=\"Bitcoin price\">\n<\/picture><figcaption class=\"wp-element-caption\">BTC price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily timeframe chart shows that Bitcoin price peaked at $123,200 last month and then retreated to $112,000 on Sunday. Its lowest level was notable as it confirmed the highly bullish break-and-retest chart pattern.\u00a0<\/p>\n<p>A break-and-retest is a popular continuation pattern that happens when an asset makes a breakout above a resistance level and then retests it. In this case, $112,000 was a key level as it was the highest point in May this year and the previous all-time high. It also coincided with the 50-day moving average.\u00a0<\/p>\n<p>Therefore, Bitcoin price will likely bounce back later this week as long as it remains above the support at $112,000. A crash below that level may see it fall to the 100-day moving average at $107,890.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s price slipped to a key support level on Sunday as investor appetite waned, tariffs rattled markets, and weak U.S. jobs data raised fresh concerns about economic momentum. At last&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=6597"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6597\/revisions"}],"predecessor-version":[{"id":6599,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/6597\/revisions\/6599"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/6598"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=6597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=6597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=6597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}