Bitcoin Dips to Two-Week Low as Trump’s Tariff Deadline Looms

Bitcoin Falls to Two-Week Low Amid Trump Tariff Anxiety as Gold Hits Record High

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  • Bitcoin fell to a two-week low of $81,500 before recovering slightly to $83,465 amid market anxiety over Trump’s impending tariff announcements.
  • Crypto assets have tracked equities downward with Bitcoin down 23% from its January high, while Ethereum has fallen to a 17-month low.
  • Gold reached a record high of around $3,153 per ounce as investors seek safe-haven assets ahead of Trump’s “Liberation Day” tariff ceremony on April 2.

Bitcoin and major cryptocurrencies experienced significant volatility Monday as markets brace for U.S. President Donald Trump‘s tariff announcement scheduled for April 2. After initially dropping to $81,500, Bitcoin recovered slightly to trade at $83,465, representing a 1% gain according to data from CoinGecko. Other major cryptocurrencies followed a similar pattern, with Ethereum rising 1.1% to $1,840 and Solana increasing 1.4% to over $125.

The cryptocurrency market’s turbulence comes directly in response to widespread investor anxiety surrounding Trump’s upcoming tariff announcement, scheduled as a ceremony in the White House Rose Garden. Bitcoin’s current price represents a 23% decline from its record high of $108,800, which was set during Trump’s January 20 inauguration.

Monday’s volatility intensified after The Wall Street Journal reported that Trump had been pushing advisors to take more aggressive positions on tariffs. This news contrasts with market sentiment from the previous week, when Bitcoin traded around $88,500 amid speculation that Trump might implement more limited trade measures.

Market sentiment indicators show improvement but remain cautious. The Crypto Fear & Greed Index, which measures investor sentiment, has climbed from “Extreme Fear” (20) last month to “Fear” (34) currently. Prediction market participants on MYRIAD foresee an 80% chance that the index will remain at 30 or above on Tuesday.

Ethereum and alternative cryptocurrencies have suffered more severely than Bitcoin during this market downturn. ETH reached a 17-month low of $1,784 on Monday, representing a 16% drop over the past month.

Despite the market turbulence, there were some positive signals last week. Investors allocated $195 million to Bitcoin investment products according to CoinShares. The asset manager noted in a Monday report that recent activity resembled “positive but cautious behavior.”

While some analysts believe Bitcoin may have found a price bottom, many point to Trump’s self-described “Liberation Day” on April 2 as a significant unknown factor, particularly given the White House’s frequently changing stance on tariff policies.

Gold, traditionally viewed as a safe-haven asset during periods of market uncertainty, set a new record on Monday, changing hands at approximately $3,153 per ounce, marking a gain of more than 1%.

Bitcoin, often promoted by advocates as a store of value, has instead been tracking equity markets, particularly the Nasdaq. Both the tech-heavy index and Bitcoin have fallen more than 5% in the past week.

Researcher Noelle Acheson observed in a message to Decrypt: “BTC is reminding us that it is seen as a risk asset by many. Risk sentiment is weak, largely due to uncertainty around the impact of tariffs and growing doubts, even among Fed officials, that rate cuts are coming any time soon.”

Monday marked the end of a challenging first quarter for cryptocurrency markets. Bitcoin is poised to finish down 11% since January, while Ethereum is projected to record a steeper 45% decline according to crypto data provider CoinGlass.

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