Based on reports, US President Donald Trump ordered two US nuclear submarines to new positions after former Russian President Dmitry Medvedev dismissed Trump’s 10-day demand to end the Ukraine conflict.
Trump wrote on Truth Social that “Words are very important and can often lead to unintended consequences.” The move pushed traders into a cautious mood, showing how a single post can shake global markets.
Submarine Maneuvers Spook Traders
Investors watched closely as the submarines moved closer to regions of tension. Rather than shrugging off the news, risk assets slumped.
Crypto and tech shares fell together, highlighting how closely linked those markets have become when big political storms brew.
Bitcoin Dips Below $114,000 In Turbulent Trade
Based on data, Bitcoin slid to $113,155 – its lowest level in weeks – triggering more than $200 million in liquidations of long positions following the news.
The top cryptocurrency followed tech stocks lower as traders pulled back from bets that rely on borrowed funds.
Monthly futures premiums narrowed to around 6%, showing that fewer investors were willing to hold high-risk trades.
Key Fed Resignation Deepens Uncertainty
Meanwhile, Federal Reserve Governor Adriana Kugler resigned on Friday, stepping down nearly 18 months before her term ended. She plans to return to Georgetown University in the fall.
NEWS: Fed governor Adriana Kugler is resigning effective next Friday.
— Nick Timiraos (@NickTimiraos) August 1, 2025
Kugler had favored holding interest rates steady until there was clearer data on inflation. With her exit, Trump can pick a new governor who might support his calls for immediate rate cuts.
Market Jitters Extend Beyond Crypto
Gold hovered near $3,350 an ounce, but it didn’t see a big safe-haven rush. Instead, money flowed into cash and short-term US Treasuries.
Reports have disclosed that traders are moving to lower-risk options as global tensions and doubts about economic data pile up.
Trump-Medvedev Spat
Even with the Kremlin keeping mum, Moscow’s bourse swooned sharply once Trump made his remarks.
In recent days, Trump and Medvedev have been trading increasingly pointed personal digs across social media.
Friday marked yet another round in Trump’s back-and-forth with Medvedev. Just a day earlier, he mocked Medvedev as “the failed former president of Russia, who thinks he’s still president.”
Bitcoin Unfazed
Despite the recent slide, Bitcoin is still well above its January level and sits only 7% below its July high of $123,182. For now, investors will be watching every tweet and military move for fresh signs of the next big market swing.
Featured image from HII, chart from TradingView
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