Bitcoin stable, but other cryptocurrencies fall due to Trump's tariffs
Kyiv • UNN
Bitcoin stabilized amid expectations of new tariffs from Trump, but most other cryptocurrencies, such as XRP, Solana, Cardano, and Polygon, lost value.
Bitcoin stabilized on Wednesday due to minor cryptocurrency purchases, as traders are wary of taking risks while awaiting new trade tariffs from US President Donald Trump, which are set to be introduced on April 2. However, other cryptocurrencies lost value.
This is reported by UNN with reference to Investing.
Details
This week, the world's largest cryptocurrency recovered slightly after a significant drop in the first quarter of 2025. But this recovery remains unstable in the face of increasing economic risks due to Trump's policies.
The US President is set to announce reciprocal tariffs for major US trading partners, as well as unveil tariffs on all imports from the US.
Investors are concerned about how Trump's tariffs will affect the economy, so markets are mostly risk-averse and putting pressure on speculative assets like Bitcoin.
Cryptocurrency price today amid anticipation of new Trump tariffs
Thus, this morning Bitcoin rose by 1.5% to $84,246.4, and Ethereum rose by 0.8% to $1857.20. However, the rest of the cryptocurrencies mostly lost value:
- XRP fell by 1.2% to $2.0777;
- Solana fell by 1.9%;
- Cardano fell by 0.5%;
- Polygon fell by almost 5%;
Among memecoins, Dogecoin lost 0.3%, and STRUMP remained unchanged.