Trump's Tariffs Targeting International Trade Disrupt Bitcoin's Price Surge,Erasing Gains of the Day

U.S. President Donald Trump has announced reciprocal tariffs on all countries with trade relations with the U.S. Trump stated that the U.S. would implement varying tariff rates on each country based on the tariffs they apply to U.S. goods.

This news triggered significant market volatility, including in the cryptocurrency space, causing the previous day's substantial gains to be wiped out.

Bitcoin (BTC) initially surged to $88,500 when Trump took the stage but quickly fell back to around $85,100, the daily opening price, before sliding further following his speech.

According to CryptoSlate data, BTC is still in a downtrend and was trading at $84,382 at the time of writing, down by 0.99% in the last 24 hours.

Traditional risk markets, including stocks, also saw similar volatility, while gold, seen as a safe-haven asset, surged back to a record high of nearly $3,100.

The broader cryptocurrency market saw similar movements, with most digital assets erasing their gains for the day, now trading in the red.

Ethereum (ETH) dropped 1.66% and was trading at $1,880 at the time of writing, after peaking at $1,957 earlier in the day.

Solana (SOL) fell 1.59%, trading at $128.3, while BNB dropped 2.16%, trading at $597 during the same period.

XRP traded at $2.09, down by 2.55%, while Dogecoin (DOGE) decreased by 2.45%, settling at $0.1688.

Investors have been cautious about exposure to risky assets in recent weeks due to the lack of clarity surrounding Trump’s tariff plans.

While the initial reaction to the news was negative for Bitcoin and stocks, further clarity on the tariffs could reduce market uncertainty, which has kept investors on edge.

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Видео Trump's Tariffs Targeting International Trade Disrupt Bitcoin's Price Surge,Erasing Gains of the Day канала Crypto Coach