The price of virtual assets is displayed at the Bithumb Lounge in Seocho-gu, Seoul. /Courtesy of Yonhap News Agency

The price of Bitcoin, which had surpassed $110,000 for the first time in history, has retreated to the $107,000 range. This decline is attributed to the global investment market being shaken by U.S. President Donald Trump's suggestion of a 50% tariff on the European Union (EU).

According to CoinMarketCap, a global virtual asset market tracking site, Bitcoin is trading at $107,047 (about 146.44 million won) as of 9 a.m. on the 24th. This is a 4.03% decline from the previous day. Bitcoin first surpassed the $110,000 mark on the 22nd. The day before, it briefly surged to $119,900, coming close to breaking through the $120,000 level.

However, President Trump has hindered the rise of Bitcoin. On the previous day, he stated on social media platform Truth Social, "I recommend imposing a 50% tariff on the EU starting June 1, 2025," adding, "It has been very difficult to engage in transactions with the EU, which was established primarily to leverage trade against the United States."

Following President Trump's post that day, the three major indices of the New York Stock Exchange closed lower, negatively impacting the investment market.