Crypto Markets Roiled as Global Tariffs Trigger Volatility—Traders Scramble for Hedges

Trade wars spill into digital asset markets as new tariffs send Bitcoin and altcoins into whipsaw territory. Institutional players pivot to stablecoins while retail traders get liquidated—same old story.

Key developments:

- Bitcoin sheds 8% in 24 hours after US-China tariff announcements

- Tether dominance spikes to 18-month high as risk-off sentiment prevails

- Mining stocks tank harder than crypto itself—proof that traditional finance still finds ways to lose more money than degens

The ’uncorrelated asset’ narrative takes another hit as macroeconomics proves it can still yank crypto’s chain. Meanwhile in Switzerland, another private bank quietly adds BTC to its balance sheet while publicly shorting the sector. Classic.

Trump’s Last-Minute Announcements

During a recent speech at the White House, Trump addressed tariff-related issues. Last month, he expressed that everyone would eventually need to make agreements with the United States and emphasized his refusal to back down. Now, he is calling for unity, suggesting that trade partners are eager to negotiate with the U.S.

Bessent made a statement last week predicting that the first official agreement would be seen by the end of this week. However, no agreement has materialized as of the first business day of the week.

Key highlights of Trump’s statements include:

“The film industry is being destroyed by other nations. I want to support the film industry and plan to meet with industry representatives. I need to ensure they are satisfied with the customs duty concept.

We are well-positioned to resolve the conflict in Ukraine. Russia wants to make a deal, and so does Ukraine. Given the drop in oil prices, we are in a good position to negotiate with Russia.

I believe the Canadian Prime Minister wants to reach an agreement. China is very eager to negotiate.”

Within four days, it will become evident how eager each party is to make deals. Should recent statements by the Treasury Secretary prove unfounded, this could adversely impact risk markets. Bessent is under pressure this week to provide tangible results after Trump declared he was negotiating with 200 countries.