According to The Kobeissi Letter, President Trump announced a recommended 50% tariff on the European Union starting June 1st, marking the first significant escalation since the prior 90-day tariff pause. This news triggered a sharp sell-off in S&P 500 futures, which dropped to 5750 (source: The Kobeissi Letter, Twitter, May 23, 2025). For crypto traders, this heightened macroeconomic uncertainty and risk-off sentiment may drive increased volatility and potential capital flows into digital assets as investors seek alternative hedges against traditional equity market instability. Monitoring crypto price action and volume around these macro developments is essential for short-term trading strategies.