Bitcoin Drops as Trump Announces Steep Tariffs
Bitcoin experienced a 0.86% decline, falling to $83,240, as global risk sentiment worsened following U.S. President Donald Trump’s announcement of a 10% universal tariff on all imports.
The news also included steeper reciprocal tariffs aimed at countries with significant trade barriers against U.S. products, such as China, Japan, and the European Union.
Trump’s Tariff Overhaul Sparks Global Market Sell-Off
The tariffs, effective April 5, 2025, and reciprocal duties targeting countries like China (with a 54% combined tariff), Japan (24%), the European Union (20%), India (26%), and Vietnam (46%), have raised concerns about a potential global trade war. These fears led to a broad risk-off sentiment across financial markets, with major U.S. stock index futures and most Asian stock indices seeing sharp declines.
Bitcoin’s Response to Risk Appetite
Bitcoin, often seen as a safe haven, has historically benefited from economic uncertainty. However, the recent price drop suggests that the cryptocurrency remains closely tied to overall market risk appetite. As geopolitical tensions and trade policy changes weigh on investor sentiment, BTC’s price action reflects broader market anxieties.
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