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Bitcoin Sinks to $83.4K as Trump’s Tariffs Shake Global Markets

Arslan ButtBy No Comments2 Mins Read

Bitcoin prices tumbled on Thursday as investors reacted to U.S. President Donald Trump’s sweeping new tariffs, triggering a global risk-off sentiment. The world’s largest cryptocurrency fell 0.8% to $83,421.50 by 01:32 ET (05:32 GMT), reflecting investor concerns over escalating trade tensions and potential economic fallout.

While Bitcoin is often viewed as a hedge against financial uncertainty, its correlation with risk assets remains strong. As global markets recoiled, cryptocurrencies followed suit, with investors shifting toward traditional safe havens like gold, which reached record highs in Asian trading.

Trump’s Tariffs Trigger Market Sell-Off

President Trump unveiled a 10% universal tariff on all imports, effective April 5, 2025, alongside steeper reciprocal duties on select trading partners.

Key tariff highlights:

  • China: 54% total tariffs (including a new 34% surcharge)
  • European Union: 20% tariffs
  • Japan: 24% tariffs
  • India: 26% tariffs
  • Vietnam: 46% tariffs
  • Foreign-made automobiles: 25% tariff, effective April 3, 2025

The move stoked fears of an all-out global trade war, leading to broad-based selling in equity and cryptocurrency markets. U.S. stock index futures plunged during Asian trading hours, while major Asian indices also suffered sharp losses.

Crypto Stocks and Altcoins Plummet

The risk-off sentiment spilled over into crypto-related equities, which posted steep losses in extended trading:

  • Coinbase (NASDAQ: COIN): Down 7.5%
  • Marathon Digital (NASDAQ: MARA): Down 7.3%
  • Riot Platforms (NASDAQ: RIOT): Down 7%
  • MicroStrategy (NASDAQ: MSTR): Down 4.6%

Most altcoins also followed Bitcoin’s downward trajectory:

  • Ethereum (ETH): Down 1.2% to $1,832.57
  • XRP: Down 0.2% to $2.0687
  • Solana (SOL): Down 3.2%
  • Cardano (ADA): Down 1.8%
  • Polygon (MATIC): Down 3.5%

Among meme tokens, Dogecoin (DOGE) fell 1%, while $TRUMP, a token associated with the former president, slumped over 7%.

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Arslan Butt is a seasoned live webinar speaker and derivatives analyst with expertise in cryptocurrencies, forex, commodities, and indices. With a strong background in both technical and fundamental analysis, Arslan helps traders—especially beginners—navigate financial data, assess market trends, and develop effective trading strategies. Arslan has extensive experience in the cryptocurrency and forex markets, focusing on price forecasting and market predictions. His previous role at a leading brokerage firm involved managing risk for forex and cryptocurrency trading clients, further refining his expertise in speculative positioning and risk management. Specializing in trading psychology, market sentiment, and price action analysis, Arslan has contributed to prominent platforms such as Cryptonews, ForexCrunch, InsideBitcoins, and EconomyWatch. His goal is to equip traders with the insights and tools they need to make well-informed investment decisions.

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