Cryptocurrency Market Tanks In Response To President Trump’s Tariffs
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April 3, 2025 4:09 pm
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The cryptocurrency market tanked following President Trump’s announcement on tariffs.
Bitcoin slid under $82,000 following the news Trump issued dozens of tariffs on countries around teh globe.
Crypto-related stocks also found themselves sinking
Strategy (MSTR), the Bitcoin buyer stock fell 8% while crypto mining company Mara Holdings (MARA) dropped more than 8%.
Trump just announced tariffs, one of the highest tariffs in US history.
Crypto markets have now erased -$200 billion in market cap pic.twitter.com/Q9UMD8YS1G
— Great Atakas 👑💎 (@cryptoerikina) April 3, 2025
#Crypto Industry see a sharp decline as Trump's tariffs hit hard:
💥🇨🇳 China 34%
💥🇪🇺 EU 20%,
💥🇮🇳 India 26%
💥🇻🇳 Vietnam 46%,
💥🇹🇼 Taiwan 32%,
💥🇯🇵 Japan 24%,
💥🇰🇷 S. Korea 25%
💥🚩Other countries ranging from 10-49% #tariffs #TrumpTariffs #Trump pic.twitter.com/0ai5fRM1P4— Cryptomegha (@OMegharaj) April 3, 2025
Per Investopedia:
Bitcoin extended its recent retreat Thursday, with the price of the leading cryptocurrency falling in the wake of President Donald Trump’s latest tariff announcement.
Bitcoin slipped below $82,000 before edging just above that level after the late-Wednesday news of new tariffs that shook global markets and eroded investors’ interest in risk assets. (Read Investopedia’s live coverage of today’s markets here.)
The news also hit crypto-related stocks. Strategy (MSTR), the Bitcoin buyer that recently changed its name from MicroStrategy, was off more than 7%. Coinbase Global (COIN) fell close to 7%, while Robinhood Markets (HOOD) slipped about 9%.
Crypto mining company Mara Holdings (MARA) fell more than 8%.
Bitcoin’s retreat extends a slide from six-digit prices last seen in February following a runup driven by optimism about cryptocurrency in the wake of Trump’s election.
The total market cap of cryptocurrency, recently around $2.6 trillion, has fallen some 6% over the past 24 hours, according to CoinMarketCap data.
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