Bitcoin News: Bitcoin’s Price Volatility Continues Amid Trump’s Tariff Announcements

The cryptocurrency market experienced significant volatility on Wednesday following the White House’s announcement of U.S. President Donald Trump’s highly anticipated tariffs. Here’s a closer look at how Bitcoin responded to the news and what it means for the future.

Bitcoin Drops as Trump Pushes Forward With Global ’Reciprocal’ Tariffs

The price of Bitcoin initially surged and then dropped on Wednesday after the White House announced U.S. President Donald Trump’s highly anticipated tariffs. Trump stated that the U.S. will impose a 25% tariff on all foreign-made automobiles starting at midnight, among other measures. During Trump’s remarks, Bitcoin surged as high as $87,800 but later dropped to around $85,500, according to crypto data provider CoinGecko.

Trump’s Tariffs Cancel Bitcoin Rally, Erase Daily Gains

US President Donald Trump announced reciprocal tariffs against every country with a trade relationship with the US, varying based on tariffs they impose on American goods. This news led to significant volatility across major markets, including crypto. Bitcoin (BTC) initially climbed to $88,500 but quickly crashed back to the daily opening price of around $85,100 before sliding further. As of press time, BTC was trading at $84,382, down 0.99% over the past 24 hours, according to CryptoSlate data. Legacy risk markets, including equities, saw similar volatility.

Bitcoin Floats in Midrange Limbo Amid Softening Capital Inflows

Bitcoin is currently trading in a midrange limbo as the sell-side risk ratio remains subdued. The downtrend in spot volume trends indicates that capital inflows are softening and investors are stepping back from large-scale buying. On-chain data provides insights into how Bitcoin holders are reacting to these market conditions. The Sell-side Risk Ratio (SSR) is a crucial predictor of holder behavior, measuring the potential risk of sell-side pressure entering the market. High SSR trends often suggest a significant supply overhang, while lower SSR values indicate that investors are less willing to sell their holdings.

US Futures and Cryptos Fall Sharply After New Tariffs Announcement

On Wednesday, U.S. equity futures and major cryptos, including BTC, fell sharply after President Donald Trump announced new tariffs on 185 countries. The S&P 500 lost more than $2 trillion in market capitalization within 15 minutes. Nasdaq 100 futures swung nearly 900 points. As of 8:45 PM ET, Dow Jones futures were down 1.26%, S&P 500 futures fell 1.16%, and Nasdaq 100 futures declined 1.20%. Markets reversed violently as Trump unveiled tariff rates nation by nation.

Bitcoin Tops $86K on ‘Liberation Day’ Amid Tariff Announcement

President Donald Trump is set to announce new U.S. tariffs on global trading partners, and Bitcoin is trending upward. The digital asset saw a modest 1.93% gain over the past 24 hours, bringing its price to $86,478.86. Despite this short-term uptick, BTC remains slightly down 0.31% over the past seven days. Bitcoin’s 24-hour price range fluctuated between $83,939.88 and $86,521.54, showing resilience after recent market fluctuations. Trading volume increased by 8.53%, reaching $28.77 billion, indicating renewed market activity ahead of Trump’s trade announcement. Meanwhile, BTC’s market capitalization ROSE by 1.98% to $1.71 trillion.