The crypto market succumbs to tariffs: Bitcoin falls over 4%-04-04-2025

Resentment and revenge. This Wednesday’s speech by Donald Trump in the Rose Garden of the White House, outside the Oval Office, made it clear that the world has entered a new phase: the United States against everyone. Just a few years ago, seeing the U.S. president holding up a sign in front of the press and his supporters with a list of countries and tariffs to be applied, while jokingly announcing them, might have seemed like a meme. Now, however, it has become the norm for the Republican. The announcement of an open war against everyone came when the traditional markets were closed, but the cryptocurrency market, which never stops, reacted immediately with extreme volatility. In the first moments of the speech, Bitcoin began to rise rapidly, approaching $88,000. However, as the speech progressed, it started to lose momentum and fell. It is now trading at $81,900, stuck at the same levels it has remained at in recent weeks.

The leading cryptocurrency fell as much as 5.19% on Thursday, though it has recovered some of the losses and is down 4.6%. Bitcoin, which has a high correlation with U.S. stock indexes, is following the trend of the North American markets, which also crashed: the S&P 500 and Dow Jones dropped nearly 4%, while the Nasdaq lost more than 5%, marking the worst day on Wall Street since September 2022. Asian markets have followed suit, with the Nikkei in Tokyo down 2.7% and the Hang Seng in Hong Kong losing 1.5%.