On April 2, 2025, President Trump enacted new tariffs, including a 10% universal tariff and higher rates for China and the EU. These tariffs immediately impacted global financial markets, with the cryptocurrency sector reacting sharply. Bitcoin's price dropped from $88,000 to $82,000 shortly after the announcement, mirroring a broader risk-off sentiment. Ethereum and XRP also experienced notable declines as market participants responded to the uncertainty.
Economists have warned that the tariffs could increase inflationary pressures. However, some experts suggest that the instability introduced by these tariffs may accelerate cryptocurrency adoption as investors look for alternatives to traditional markets. Historical parallels from Trump's first term in office are cited, but the current measures are broader. While the immediate reaction has been negative for digital asset prices, some analysts believe Bitcoin could ultimately benefit, potentially rising to $150,000, as it becomes increasingly seen as a safe haven in the face of global financial fragmentation.