Bitcoin just took another brutal hit. After clawing its way back above $82,000, it got slammed right back down below $80K as President Donald Trump announced fresh U.S. tariffs on Canadian imports. According to Cointelegraph, the latest trade restrictions reignited fears of a full-blown economic downturn, sending stocks, crypto, and other risk assets into a tailspin. The S&P 500 slipped 0.5%, while the U.S. dollar dropped to its weakest level since October 2024.
Bitcoin’s Rally Shattered by Tariff Shock
Traders were hoping for a recovery, but Trump’s latest tariff move threw cold water on those dreams. QCP Capital called his “indifference to recession risks” a key concern, but also noted that falling Treasury yields and a weakening dollar could eventually boost Bitcoin’s long-term outlook.
Where Does Bitcoin Go From Here?
The market is scrambling for direction. More Crypto Online warned that Bitcoin could still hit fresh lows if it fails to break resistance, while CrypNuevo highlighted $75,500 as a critical support zone. Meanwhile, options traders are adjusting their bets—$100,000 has overtaken $120,000 as the most popular Bitcoin call option on Deribit, per CoinDesk.
At the time of writing, Bitcoin is sitting at $81,182.82. It’s clear that Bitcoin is currently stuck in limbo, waiting for its next big catalyst—or another hammer blow from the White House.
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