- Bitcoin tumbled over 7% within 24 hours, falling from nearly $88,000 to roughly $81,300 following President Trump’s new tariff announcement.
- Trump declared a 10% blanket tariff on all countries effective April 5, with additional tariffs for specific nations like China starting April 9.
- Risk assets broadly declined after the announcement, with the S&P 500 dropping 4.8% and the Nasdaq Composite losing approximately 6%.
Bitcoin prices fell significantly, dropping from nearly $88,000 to about $81,300 within 24 hours, according to CoinMarketCap data. This 7% decline came as risk assets broadly retreated following President Donald Trump‘s latest tariff announcement. By the time of reporting, Bitcoin had partially recovered to trade near $83,000.
The price drop occurred after Trump announced new tariffs following the stock market close. The president declared a 10% blanket tariff on all countries worldwide, citing authority under the International Emergency Economic Powers Act of 1977. This policy is set to begin April 5, with additional tariffs targeted at countries like China scheduled for April 9.
Financial markets reacted strongly to the news, with the benchmark S&P 500 index dropping 4.8% in a single trading day according to Google Finance data. The technology-focused Nasdaq Composite fell even harder, losing approximately 6% on the same day.
Strategic Timing of the Announcement
Tim Enneking, managing partner of Psalion, highlighted the calculated timing of Trump’s announcement. “Trump timed his tariff announcement very carefully, for immediately after the close of US equities markets,” he noted via email.
Enneking added, “Crypto markets, however, never close, so, after an optimistic and momentary rise to over $88k just prior to his announcement, BTC fell literally during Trump’s ‘Immolation Day’ statement.”
Market Flight to Safety
Brett Sifling, wealth manager at Gerber Kawasaki Wealth & Investment Management, suggested Bitcoin continues to be viewed as a risk-on asset by investors. “With the recent shakeup in financial markets and tariff news, it seems that most risk-on assets are being sold across the board,” he explained.
TikTok influencer Wendy O offered additional perspective, noting Bitcoin had been declining from its $109,000 peak since January 2025. She also pointed to Gold as a competing inflation hedge, with spot gold reaching a new all-time high near $3,170 according to Kitco News data.
Sifling concluded that investor concerns about slowing growth and potential recession have triggered a flight to safety, causing them to sell riskier investments like Bitcoin in favor of more conservative asset classes.
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