New tariffs announced by U.S. President Donald Trump, including a 25% duty on steel and aluminum imports, are causing market watchers to approach Bitcoin, Ether, and other cryptocurrencies with caution. These tariffs, which could escalate trade wars, introduce economic uncertainty and potentially increase market volatility. Bitcoin, Ether, XRP, Solana’s SOL, and Dogecoin saw minimal changes, with increases under 1% in the past 24 hours, while BNB Chain’s BNB experienced a 4.5% drop after a Sunday rally. Ethereum has been particularly hard-hit, with its value down 23% year-to-date compared to Bitcoin’s 2.5% gain. The lack of short-term catalysts and the bearish turn of a key indicator that once suggested Bitcoin could surpass $100,000, now signals potential downside volatility for cryptocurrencies. Investors are betting on only one interest rate cut by the Federal Reserve this year, further casting a grim outlook for risk assets like crypto.
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