Bitcoin has dropped hard from its record $109,000 high since Donald Trump’s return to the White House, and tariffs are front and center. The U.S. president’s aggressive trade policies — including multiple rounds of import taxes on China, Canada, and Mexico — have dragged Bitcoin below $80,000 at one point, with retaliation from other nations adding fuel to the fire.
Trump’s Tariff Escalation Sends Bitcoin Tumbling
The drama began in late January, when Trump targeted Colombia with tariffs. A few days later, he hit Chinese goods with a 10% tariff and Canadian and Mexican goods with 25%. The fallout was swift — Bitcoin plunged. Then came more blows: the Bybit hack, metal tariff hikes, and even threats of 200% tariffs on European champagne.
Markets Try to Rebound Ahead of “Liberation Day”
By mid-March, Trump’s tone softened slightly, hinting some countries might avoid penalties. Treasury Secretary Scott Bessent said tariffs could be “tailored.” Bitcoin climbed back to $88,000 — but the calm might be short-lived. “With BTC’s correlation to the S&P 500 and other traditional assets, it wouldn’t be silly to discount tariffs and geopolitical maneuvering,” said Liquify’s Justin d’Anethan to Cointelegraph.
Investors Brace for April 2
Trump’s “Liberation Day” — the next round of reciprocal tariffs — lands April 2. Until then, Bitcoin’s volatility is likely to persist.
At the time of writing, Bitcoin is sitting at $87,782.
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